Tata in the race to acquire Ford's Chennai plant

Ford has two manufacturing units in India - one in Chennai and the other in Sanand, Gujarat.

According to a media report, the Tata Group plans to acquire Ford's manufacturing unit near Chennai.

Tata Group Chairman N Chandrasekaran recently met Chief Minister MK Stalin to discuss the planned takeover. Reports suggest that Stalin had requested the Tata Group to consider buying out the Ford factory, following the American automaker's exit from the Indian market.

Last month, Ford announced that it would stop manufacturing vehicles in India. The carmaker has invested about $2.5 billion in Chennai and Sanand plants.

It has been reported that MG Motor is also interested in acquiring Ford India's assets.

Source: DT Next