Tata Motors Limited (NYSE: TTM) intends to boost its electric vehicle manufacturing capabilities with the acquisition of one of the manufacturing facilities of Ford Motor Company (NYSE: F). The financial terms of the transaction have been kept under wraps. Both the companies performed well in the market on Friday. While ADRs of Tata Motors inched up 0.7% to close at $28.19, shares of Ford Motor grew 3.9% to $13.63 on Friday. Inside the Headlines Tata Passenger Electric Mobility Limited (TPEML), the electric vehicle arm of Tata Motors, and Ford India Private Limited (FIPL), the Indian unit of Ford Motor, are the two main parties involved in the transaction.
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