Top auto majors Tata Motors, M&M, Bajaj and Volkswagen with a footprint in Maharashtra on Thursday signed an MoU with the state government committing investments worth R11,510 crore over the next few years, reports fe Bureau in Mumbai. Tata Motors and M&M said they will make fresh investments of R4,000 crore each in the state. M&M, for instance will spread out its investment over a seven-year period for capacity expansion at its Chakan plant. With Thursdays announcement, M&Ms total investment at Chakan touches R8,000 crore.
M&M also plans to hire 2,500 people. Similarly, Tata Motors investment would come at its Pune plant where it plans to hire 1,200 workers. Bajaj Auto will make an investment of R2,000 crore to take its capacity to 38,40,000 from the current 22,80,000. Volkswagen has made a commitment to invest R1,510 crore.