Tata Motors: The Tamil Nadu government announced that the Company will invest Rs 9,000 crore to establish its first vehicle manufacturing factory.
Key Points
- Tamil Nadu government and Tata Motors signed an agreement for a new automobile production facility.
- Tata Motors’ first manufacturing facility in the state is valued at Rs 9,000 crore.
- The manufacturing facility is expected to create 5,000 new employees.
On Wednesday, Tata Motors representatives and Tamil Nadu Chief Minister MK Stalin signed an agreement to invest Rs 9,000 crore to construct the company’s first automobile manufacturing facility in the state.
The manufacturing plant would create 5,000 new employees, according to TRB Rajaa, the state’s minister of industries.
In the presence of Chief Minister M K Stalin, Vishnu, MD&CEO, Guidance Tamil Nadu, and PB Balaji, CFO of Tata Motors, exchanged papers.
MK Stalin announced on X (Twitter) that Tata Motors has entered into a significant agreement with the Government of Tamil Nadu to set up a vehicle manufacturing plant. The pact involves an investment of Rs. 9000 crores and is expected to generate employment opportunities for over 5000 individuals.
He added that with this investment, Tamil Nadu strengthens its status as the leading automobile hub of India, drawing parallels to the transformative effect of Hyundai‘s investment during Kalaignar’s administration.
Also Read: Tata Groups
After the action, the state’s minister of industries, TRB Rajaa, claimed on X (Twitter)that in just two months, Tamil Nadu had drawn two significant investments in the manufacture of automobiles.
Notably, in January of this year, Vietnam-based electric vehicle (EV) firm VinFast planned to invest in Tamil Nadu and create a production plant in Thoothukudi. This would be the company’s initial manufacturing facility in India.
