Tata Motors & TN govt sign MoU for new facility, to invest ₹9,000 crore
- Tata Motors Group plans to invest about ₹9,000 crore in Tamil Nadu over five years, which could create up to 5,000 jobs.
Tata Motors Group has announced that the automaker has signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu to explore a new manufacturing facility in the state. The automaker has announced that it plans an investment of about ₹9,000 crore in the state over five years, which could “potentially create" up to 5,000 direct and indirect jobs.
Tata Motors Group, along with teams from Guidance, Tamil Nadu’s nodal agency for investment promotion and facilitation will take this opportunity forward, following the signing of the MoU, the automaker said in a statement.
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The MoU was signed in the presence of Thiru. MK Stalin - Chief Minister of Tamil Nadu, and between V Vishnu, IAS - Managing Director & CEO, Guidance, and PB Balaji, Group CFO - Tata Motors. The Minister for Industries Dr TRB Rajaa, the Secretary of Industries, Investment Promotion & Commerce Department, Arun Roy, IAS, and senior officials of Tata Motors Group were present for the event.
It’s unclear what will be produced at the new Tamil Nadu manufacturing facility. The company has an expansive lineup of passenger and commercial vehicles, including electric vehicles. More recently, Tata announced its plans to divide its passenger (including ICE, EV and JLR) and commercial vehicle businesses (and its related investments) into two separate listed companies. Tata already has facilities in Jamshedpur, Pantnagar, Lucknow, Sanand, Dharwad, and Pune in the country. It also has manufacturing facilities in Argentina, South Africa, the UK, and Thailand.
Tamil Nadu is considered the Detroit of India, given the high concentration of auto players in the state. Tata’s arrival has been a long time coming and the auto giant joins the likes of Hyundai, Renault-Nissan, Stellantis, Bharat Benz, BMW, and a host of other OEMs, which have a presence in the state. We expect Tata Motors to share more details in due course.
