Private Equity

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Tata Motors' EV unit acquires Ford's Sanand plant for Rs.726-Cr

BSE Announcement  

Tata Passenger Electric Mobility Ltd (TPEML), the electric vehicle subsidiary of publicly listed Tata Motors Ltd, is to acquire the car making plant in Sanand, Gujarat - including buildings, machinery & equipment - from Ford India Pvt Ltd (FIPL) for INR 725.7 crore. FIPL will continue to operate its Powertrain Manufacturing Facility by leasing it back from TPEML. TPEML has agreed to offer employment to the eligible employees of FIPL's Powertrain Manufacturing Plant in the event of FIPL's cessation of such operations.

From the Venture Intelligence PE-VC Deal Database: In Oct-21, TPEML had attracted an USD 1 Billion investment commitment from TPG Growth (via TPG Rise Climate) along with its co-investor ADQ. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)