Tata Motors, an Indian multinational automotive manufacturing company, agreed to acquire a manufacturing facility in Gujarat of Ford Motor Company, an American multinational automobile manufacturer, for $92m. "Tata Motors has a strong presence in Gujarat for more than a decade with its own manufacturing facility at Sanand. This MoU further reinforces our commitment to the state by creating more employment and business opportunities. Rising customer preference for passenger and electric vehicles made by Tata Motors has led to a multi-fold growth for the company over the past few years. This potential transaction will support expansion of capacity, thus securing future growth and opportunity to further strengthen our position in the passenger and electric vehicles space," Shailesh Chandra, Tata Motors Managing Director.