Tata Motors Group, one of India’s leading manufacturers of commercial and passenger vehicles has signed a facilitation Memorandum of Understanding (MoU) with the Government of Tamil Nadu to explore setting-up of a vehicle manufacturing facility in the state.
The auto major envisages an investment of around Rs 9,000 crore over the next 5-years, which it says will potentially create up to 5,000 jobs (direct and indirect).
Following the signing of this MoU, teams from Guidance, Tamil Nadu’s nodal agency for investment promotion and facilitation and Tata Motors Group will work together to take this opportunity forward.
The MoU was exchanged in the presence of the Chief Minister of Tamil Nadu, M K Stalin and signed 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 Mr. Arun Roy IAS, and senior officials of TATA Motors Group were also present.
This is the second largest investment in Tamil Nadu in 2024 from the automotive space. Last month, Vietnam’s VinFast Group broke ground for its $500 million (Rs 4,152 crore) facility in Tamil Nadu. The company has proposed investing over $2 billion (Rs 16,662 crore) in the state.
