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Tata Motors Group, India's leading manufacturer of commercial and passenger vehicles, has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to explore establishing a vehicle manufacturing facility in the state. The MoU will facilitate an investment of INR 9,000 crore over the next five years and could potentially create up to 5,000 direct and indirect jobs.
Following the signing of the MoU, teams from Guidance, Tamil Nadu�s investment promotion agency, and Tata Motors Group will work together to advance this opportunity. However, Tata Motors did not specify which vehicles would be manufactured at the proposed facility in Tamil Nadu.
This represents Tata Motors' first investment in Tamil Nadu but its second plant in South India, as the company already has a manufacturing unit in Karnataka's Dharwad. Tamil Nadu's Minister of Industries, Dr T R B Rajaa, informed about the mega project and stated that the state has become a preferred investment destination and is on its way to a prosperous future.
The MoU was exchanged in the presence of the Chief Minister of Tamil Nadu, M.K. Stalin. It was signed between V Vishnu, IAS, Managing Director & CEO of Guidance, and PB Balaji, Group CFO of Tata Motors. The Minister for Industries Dr. TRB Rajaa, the Secretary of Industries, Investment Promotion & Commerce Department Arun Roy, IAS, and senior officials of TATA Motors Group were also present.
This announcement marks the second automobile manufacturing investment within the past two months. Last month, Vietnamese electric vehicle maker VinFast began constructing a factory in Tamil Nadu after earmarking investments worth INR 16,000 crore in the state. It had signed an MoU with the state government to establish the plant during the first edition of the Global Investors Meet in January.
Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks, and buses, offering an extensive range of integrated, smart, and electric mobility solutions. Tata Motors is India�s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market.
Chennai, which is also the capital of Tamil Nadu, boasts hosting factories of global automobile giants including BMW, Daimler and Hyundai.
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