Tata Indica, the Tata Group's big passenger car bet, was not delivering expected returns a year into its launch. Desperate, the Tata Motors brass, led by Ratan Tata, acceded to a meeting request from Ford Motors for a possible sale of the passenger vehicles division to the American auto major. Some people had advised Tata to sell the business, and the Ford officials came to Bombay House to hold talks.
US auto giant Ford Motor Company has appointed Alan Mulally as president and chief executive offer.
Days after Ford Motor chairman and CEO Bill Ford promised fresh investments for India, the company said it will be pumping in $75 million (around Rs 330 crore) for expanding operations.
Highlighting the importance of the Indian market, US auto giant Ford Motor Co on Tuesday had the first public showing of its new mid-size premium car 'Fiesta' with company chairman and CEO Bill Ford promising further investments
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
In addition to Pichai and Nadella, IBM's Arvind Krishna, Micron's Sanjay Mehrotra, Ajay Banga from Mastercard and Ann Mukherjee from Pernod are among the six Indian-Americans among over 200 corporate honchos who will advise the President and offer recommendations on how to revive the American economy.
The automaker will invest USD 195 million (about Rs 1,300 crore) and would employ 3,000 workers over the next five years, Ford Executive Chairman Bill Ford said in the Tamil Nadu capital today.
When 'humiliated' Tata did 'favour' to Ford with JLR buyout!
President Donald Trump talked to the Saudi King, during which the latter flatly denied having any knowledge of the missing journalist.
It is significant that the PM's appeal to invest in India comes at a time when the global economy is facing a difficult phase
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