With Tata Motors subsidiary taking over Ford's passenger vehicle (PV) manufacturing unit at Sanand in Gujarat, uncertainty over the future of Ford's Maraimalai Nagar unit in Tamil Nadu continues, with workers protesting on Thursday demanding a better severance package. There are over 2,000 employees working at the unit. On Thursday, there was a meeting between agitating employees and the state labour department. The workers started protests at the Chennai unit after Tata Passenger Electric Mobility signed a tripartite memorandum of understanding with Ford India and the Government of Gujarat for acquisition of Ford's PV manufacturing plant at Sanand.
Continued adverse global automotive market conditions have resulted in a overall reduction in Jaguar Land Rover volumes during the quarter.
The company is still short of over Rs 4500 crore (Rs 45 billion) to refinance the debt which is due before June 2 this year. The company had planned to raise the fund for refinancing through three routes. It planned to raise about Rs 4200 crore through rights issues which it managed after the issue devolved on underwriters in October as the stock prices were tumbling globally following the economic crisis.
The exercise part of drive to combine operations under single firm.
Europe's top-end car maker Volvo is planning an onslaught on the Indian market on the back of Ford India Ltd. Ford India's parent, the US-based Ford Motor, owns Volvo's car business.
Car maker Ford plans to unveil a new concept vehicle at the upcoming Delhi Auto Expo as the company looks to tap growth in the compact car segment India.
Tata Passenger Electric Mobility (TPEM), a subsidiary of Tata Motors, on Friday announced that it has commenced production at its second factory in Sanand, Gujarat, which it had acquired from Ford India last year. This new facility will unlock an additional manufacturing capacity of 300,000 units per annum, which is scalable to 420,000 units. The new facility is spread over 460 acres and is adjacent to Tata Motors' existing passenger vehicle facility in Sanand.
Ford Motors, one of the big three in the US auto industry, is planning to increase its market share at a time when its rivals -- GM and Chrysler -- are tackling bankruptcy and restructuring procedures.
Ford Motor India would announce an across the board price hike next month, a top company official said on Wednesday.
The automaker will invest USD 195 million (about Rs 1,300 crore) and would employ 3,000 workers over the next five years, Ford Executive Chairman Bill Ford said in the Tamil Nadu capital today.
Highlighting the importance of the Indian market, US auto giant Ford Motor Co on Tuesday had the first public showing of its new mid-size premium car 'Fiesta' with company chairman and CEO Bill Ford promising further investments
Teams of both companies are collaborating on all areas of mutual interest including electrification, distribution and product development.
With India leading the small SUV market and attracting majority of investments from Ford Motor Company, the country is set to become a hub for the US automobile major, a top official said.
Ford Motor India said on Monday that it hopes to wipe out its losses this year riding on the growing sales of its mid-size sedan Ikon.
The US auto giant Ford Motor on Tuesday said it would post profits at its Indian unit from this year, with a strong sales growth of its mid-size sedan 'Ikon' in the market.
Ford Motor India on Monday said the sales of its flagship model Ikon crossed the 10,000 mark in the first five months this year and the company was poised to post profit in 2004.
Giving a fresh twist to the Ford India employees' strike at the firm's Maraimalai Nagar factory, the company has set the deadline for Monday evening for workers to accept a 'non-negotiable' severance package it is offering. It also indicated the possibility of legal action against workers from June 14 (Tuesday) and warned of early closure of the unit, before completing remaining export volume production. For the past 14 days, some 2,000 employees at the unit had struck work, seeking a better package from the company.
Tata Motors made waves when it bought the Jaguar and Land Rover brands. Test your knowledge about the erstwhile owner of these brands -- Henry Ford.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
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Tata Motors on Monday said its subsidiary and Ford India have inked a pact with the Gujarat government to acquire FIPL's Sanand vehicle manufacturing plant. Tata Passenger Electric Mobility Ltd (TPEML) -- a subsidiary of Tata Motors -- and Ford India Pvt Ltd (FIPL) have today signed a memorandum of understanding (MOU) with the Gujarat government for the potential acquisition of FIPL's Sanand vehicle manufacturing facility, including land, buildings, vehicle manufacturing plant, machinery and equipment, Tata Motors said in a regulatory filing. The MoU also includes the transfer of all eligible employees of FIPL Sanand's vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals, it added.
Ford dealers in India are staring at huge losses with the automaker deciding to shut production in the country with immediate effect, automobile dealers' body FADA said on Thursday. Terming the company decision as shocking, the industry body noted that the dealers have invested over Rs 2,000 crore in creating sales infrastructure while employing around 40,000 people across the country. "The auto retail fraternity is really shocked to hear another Ford India's announcement where it has said that it will shut down production with immediate effect," FADA president Vinkesh Gulati said in a statement.
'Krishna is your best friend. He knows what's best for you.' 'They talk about death being a final exam. So at 65, I have to be studying for my final exam.'
Ratan Tata was one of the world's most influential industrialists yet he never appeared on any list of billionaires. He controlled over 30 companies that operated in over 100 countries across six continents yet lived an unpretentious life. Ratan Naval Tata, who died at a Mumbai hospital on Wednesday night at the age of 86 years, enjoyed a perhaps unique status -- a corporate titan who was considered a 'secular living saint' with a reputation for decency and integrity.
Following it negotiations with Ford Motors for the aquisition of Jaguar and Land Rover, Tata Motors has been put under credit watch.
Kant, an alumnus of IIT-Kharagpur, was managing director of the company before being promoted as vice-chairman five years ago.
Automobile dealers' body FADA has urged the government to formulate a task force to monitor the compensation structure being worked out by Ford India for its dealer partners across the country. In a letter to Heavy Industries Minister Mahendra Nath Pandey, FADA president Vinkesh Gulati also requested the government to instruct Ford India to keep the industry body in the loop regarding the compensation structure for the dealerships. "We humbly request your Ministry's intervention... Create a task force which takes day-to-day updates from Ford India to monitor the compensation plan for automobile dealers and dealership employees," Gulati said in the letter.
The current Explorer and Explorer Sport Trac models are built at the companys Louisville assembly plant in Kentucky.
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Volvo India is in talks with Ford Motors India to start assembly operations in India.
The company did not clarify if the software error affects only domestic sales or exports from the plant as well
About 1,800 workers at Rico Auto Industries, in Gurgaon near Delhi, ended their almost 50-day strike following an agreement with the management on reinstatement of some employees.
Both are finding it difficult to sell one each of their plants -- Chennai Maraimalai Nagar (Ford) and Talegaon near Pune (GM) -- and are finding the road blocked by employee severance snarl-ups, report Sohini Das and Shine Jacob.
Tata Motors has succeeded in securing a $3bn banking facility for its purchase of Jaguar and Land Rover from Ford Motor, which should clear the way for the deal to close next week. Tata's ability to raise the money in spite of the turmoil on debt markets represents a vote of confidence in the Indian company and removes one of the last main obstacles to the deal.
From the customer point of view too, LFP batteries are safer and offer a longer life.
It plans to recall another 700 EcoSport vehicles made between January and February 2016 and fitted with a 60/40 rear folding seat
Barely days before it launches the world's cheapest car, Tatas were on Wednesday named the preferred bidder for Ford's British luxury brands -- Jaguar and Land Rover.
In wake of the coronavirus pandemic, US auto major Ford has asked its 10,000 employees in India, except those in business-critical roles, to work from home, a step which has also been taken up by Swedish luxury car maker Volvo. A Ford India spokesperson said, in recent days, the company has concluded that the issue of coronavirus has taken on a different dimension.
Ford India has introduced a new line-up of its mid-size sedan Fiesta in New Delhi.
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