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Tata Motors is looking to commence operations at the Gujarat-based manufacturing plant it acquired from Ford, over the next 12-18 months to scale up its production capacity, according to its head of passenger vehicle business. The automaker earlier this month completed the acquisition of Ford India's manufacturing plant at Sanand through a subsidiary. In August last year, the company had announced that its arm Tata Passenger Electric Mobility Ltd (TPEML) would acquire Ford India Pvt Ltd's (FIPL) Sanand plant, Gujarat for Rs 726 crore. Tata Motors had earlier noted that with its manufacturing capacity nearing saturation, the acquisition is timely and a win-win for all stakeholders. The Sanand plant has a manufacturing capacity of 3 lakh units per annum, which is scalable to 4.2 lakh units per annum. TPEML is in the process of making necessary investments to reconfigure the plant to adapt to the Mumbai-based automaker's existing and future vehicle platforms. The unit is adjacent to th
Toyota Motor Corp. said Thursday that its CEO and president, Akio Toyoda, will become chairman. He will be replaced as CEO by the automaker's chief branding officer, Koji Sato. Toyota announced the leadership reshuffle without any forewarning, but it had a lively promotional video prepared to highlight Toyoda and Sato's love for electric vehicles and fast cars. Sato, 53, has been managing the Toyota group's Lexus brand operations and motor racing. Toyoda, grandson of Toyota's founder Kiichiro Toyoda, took over as CEO of Toyota in 2009. He will replace as chairman Takeshi Uchiyamada, who is giving up the title but will remain a representative director at the company. Toyoda had earlier hinted he was thinking about who might succeed him.