The company said that the move can potentially create up to 5,000 jobs.
Chennai:
Tata Motors, India’s largest automobile company, on Wednesday signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu to explore setting-up of a vehicle manufacturing facility in the state.
According to the MoU, the company will invest 9000 crore rupees to establish the plant in Tamil Nadu over the next five year.
The company said that the move can potentially create up to 5,000 jobs direct and indirect in the state.
The MoU was exchanged in the presence of Tamil Nadu Chief Minister M K Stalin and Industries Minister T R B Rajaa.
Announcing the pact on X, formerly Twitter, Tamil Nadu Chief Minister MK Stalin said that the landmark move further solidifies its position as the unrivaled automobile capital of India, reminiscent of the transformative impact of Hyundai’s investment during Kalaignar’s tenure.
In a landmark move, @TataMotors has inked an MoU with the Government of Tamil Nadu to establish a vehicle manufacturing facility, investing Rs. 9000 crores and creating over 5000 jobs.
With this investment, Tamil Nadu further solidifies its position as the unrivaled automobile… https://t.co/cAuSMe0wog
— M.K.Stalin (@mkstalin) March 13, 2024
Following the move, the state’s Industries Minister TRB Rajaa took to X and said that Tamil Nadu has attracted two big automobile manufacturing investments within a span of just 2 months.
“Over the past couple of years, Tamil Nadu has hit the fast lane and become the ultimate hub for investments, showcasing our Chief Minister’s dedication to fostering top-tier employment for our vibrant youth and amplifying our industrial prowess”, the minister wrote on X.
🎉 Another BILLION DOLLAR INVESTMENT comes into #TamilNadu ! 🚘
🌟 #TataMotors and the Government of Tamil Nadu are revving up for an epic journey!
In the presence of our Honourable @CMOTamilNadu Thiru. @MKStalin avargal, @TataMotors today signed an MoU with the Government of… https://t.co/cAjpHJvUDdpic.twitter.com/K3RTTNewmK
— Dr. T R B Rajaa (@TRBRajaa) March 13, 2024
Tata Motors, however, did not specify in its exchange filing that what vehicles it would make at the Tamil Nadu’s new facility.
This is the second automobile major to sign an MoU in Tamil Nadu in two months. In January this year, Vinfast, Vietnam’s leading electric vehicle (EV) manufacturer, had committed 4000 crore investments in the first phase which could go up to 16000 crore.
