Tata Motors most likely to acquire the Maraimalai Nagar unit of Ford India. As per a government source there are next level talks happening between the Tamil Nadu government and the Tata Group.
Moreover, the news caught attention when the Hon. Chief Minister of Tamil Nadu Shri M.K. Stalin met the Chairman N Chandrasekarn of Tata Sons along with State Industries Minister Shri Thangam Thennarasu. In a span of 2-weeks both the parties got into discussion the second time, earlier last week the Tamil Nadu CM had met the Tata Motors executive director Girish Wagh.
Further, the source added as the chief minister chaired these meetings,hence the decision isnt rolled out. The Chief Minister shall announce the final decision.
The spokesperson of Tata Motors stated – the meeting between the Tamil Nadu CM and Chandrasekarn was courteous and rest were mere speculations.
Ford’s Maraimalai Nagar unit has production capacity of 2lac vehicles & 3.4lac engines per annum. The EcoSport and Endeavour which were exported to over 30 countries from this particular plant. Moreover, there was an investment of over $1 billion by the US carmaker in the plant.
Further to Ford’s India exit announcement, a lot of uncertainties brew among the employees future. With approximately around 170 authorized dealers in India. Who unitedly manage around 400 showrooms, with employees across levels.
Other companies like Mahindra & Mahindra and Ola were in talks with the US Auto major but nothing capitalized.