Automaker Tata Motors will set up a manufacturing unit in Tamil Nadu for Rs 9,000 crore in five years, seeking to expand its production footprint in South India.
The investment is expected to create more than 5,000 jobs in Tamil Nadu. The commercial and passenger vehicle company’s other manufacturing unit in South India is in Dharwad, Karnataka. It has manufacturing bases in Jamshedpur (Jharkhand), Pune (Maharashtra), Lucknow (Uttar Pradesh), Pantnagar (Uttarakhand), and Sanand (Gujarat).
Tata Motors and the Tamil Nadu government on Wednesday signed a memorandum of understanding (MoU) for the manufacturing facility. “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,” said state industries minister T R B Rajaa. “We’re not just building factories; we’re engineering dreams and accelerating towards a brighter, more prosperous future.”
Guidance Tamil Nadu, the state’s investment promotion agency, and Tata Motors will “work together to take this opportunity forward”, said the company in a statement.
The MoU was signed between V Vishnu, managing director and chief executive officer of Guidance, and P B Balaji, group CFO of Tata Motors, in the presence of Chief Minister M K Stalin.
Tata Motors said its new products will be “fuelled” by modern design and research and development centres in India, the UK, the US, Italy, and South Korea. The company is pioneering India’s electric vehicle (EV) transition and driving the shift towards sustainable mobility solutions by developing a tailored product strategy, it said.