Tata Group may be gearing to takeover Ford's plant in Tamil Nadu as per reports citing unnamed govt officials. The speculation rose as Tata Sons Chairman N Chandrasekaran met with Tamil Nadu chief minister MK Stalin and state industries minister Thangam Thennarasu. This meeting was preceded by Tata Motors executive director Girish Wagh who had already met Stalin a few days ago.
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Ford's plant in Tamil Nadu has an annual production capacity of 2,00,000 vehicles and 3,40,000 engines. The US carmaker had invested more than $1 billion in the plant. Ford had decided to quit it's India production unit on September 9 leaving the future of employees uncertain.