The meetings between Tamil Nadu Chief Minister M K Stalin and the leadership team of the Tata Group continue. Earlier today, Tata Motors's Executive Director Girish Wagh met the Chief Minister of Tamil Nadu in Chennai. There is no detail on what transpired in today’s meeting.
This is the third meeting of the Group with the Tamil Nadu CM since September. The first meeting was in end-September with Girish Wagh, followed by another one 10 days later, this time with Tata Group Chairman N Chandrasekaran on October 7.
The latest meeting comes at a time when there are reports that the Tata Group is scouting for places to set up its $300 million semiconductor facility. The group has been in discussion with three states: Tamil Nadu, Karnataka and Telangana to set up the plant. Earlier today, the Union Cabinet approved the Rs 76,000 crore PLI scheme for semiconductors.
Tamil Nadu, which is known as the Detroit of Asia, is now also a hub for electric vehicle manufacturing what with Ola Electric, Ampere Electric and Simple Energy making or planning to male big-ticket investments in the state for manufacturing electric two-wheelers. Earlier this month, Hyundai Motor India unveiled its mega plan to roll out six EVs for the domestic market. And the Tata group has already announced its intent to invest nearly Rs 5,000 crore in Hosur for electronic components.
The multiple meetings with the chief minister has led to speculation within industry circles if the company is keen on acquiring the Ford plant at Maraimalainagar near Chennai which is now up for grabs. The American carmaker had announced in end-September announced that it was stopping production at this plant as well as the one in Sanand, Gujarat. The Tamil Nadu government has made known that it will help identify a buyer for the Maraimalainagar facility.