Ford Motor Co (NYSE: F) is in talks with Indian automaker Tata Motors Restricted (NYSE: TTM) to promote its manufacturing belongings there, The Instances of India reported on Friday, citing a number of sources.
What Occurred: Ford has introduced plans to exit operations in India and part out its vegetation on the western coast in Gujarat and one other one within the southern Indian state Tamil Nadu.
Ford is in discussions to promote each these belongings in India to Tata Motors, as per TOI.
See Additionally: Ford’s India Exit Worries Sellers Of Authorized Motion From Prospects
Ford would shut down the Gujarat manufacturing facility by the fourth quarter and the one in Tamil Nadu will probably be shut by the second quarter of 2022.
Why It Issues: Ford introduced plans to exit India because it was shedding cash operating its operations within the nation. The deal if it goes forward, would be the second time round that Tata Motors is shopping for an asset from Ford. Tata Motors had in 2008 purchased loss-making Jaguar Land Rover from Ford after which turned it round.
Value Motion: TTM shares closed 15.3% larger at $25.75 on Thursday.
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