Tata Motors
Tata Motors recently signed a Memorandum of Understanding (MoU) with the Tamil Nadu government. The automaker is investing over ₹9,000 crore to set up a vehicle manufacturing plant in the state. This major investment will be realized over five years and will create direct and indirect employment opportunities for around 5,000 people. Tamil Nadu Chief Minister M.K.
The memorandum of understanding was signed in the presence of those present. Stalin, V. Vishnu, IAS, Managing Director and CEO, Guidance, and P. B. Balaji, CFO, Tata Motors Group. While the carmaker said it has significant investment ambitions, it did not provide exact details of the new plant in Tamil Nadu.
Therefore, it is not yet known whether passenger cars or commercial vehicles will be produced in the new plant. Further information on the subject is expected when the plant is completed.
Notably, this is the automaker’s second largest contribution to Tamil Nadu this year. The company plans to invest 4,000 million in five years. Let’s take a closer look at some other important developments of the domestic car manufacturer.
More highlights from Tata Motors
Tata Motors recently announced that it has produced 10 million vehicles at its Sanand plant in Gujarat, marking a major milestone in manufacturing. The iconic car is the Tata Tiago which starts at Rs 5.65 lakh in India.
The domestic car manufacturer opened the factory in Sanand in 2010. The site is spread over 1,100 hectares, with 741 hectares for TML and 359 hectares for Vendor Park. It directly and indirectly employs around 6,000 people.
The facility currently manufactures Tiago, Tiago AMT, Tthe Tiago.ev, Tiago iCNG, Tigor, Tigor AMT, Tigor EV, Tigor iCNG and XPRES-T EV types (for fleet operators). Tata Motors claims to have successfully converted a single-model plant into a multi-model plant capable of producing three models with impeccable asset management and utilization.
In this regard, Tata Motors recently announced plans to split into two separate listed companies. The first will focus on passenger cars, the second on commercial vehicles.