Tata Motors signs MoU with govt of Tamil Nadu, to invest Rs 9000 crore in five years

The MoU was exchanged in the presence of the Chief Minister of Tamil Nadu, Thiru. M.K. Stalin and signed between V Vishnu, IAS, Managing Director & CEO, Guidance, and PB Balaji, Group CFO, Tata Motors.

Autocar Professional BureauBy Autocar Professional Bureau calendar 13 Mar 2024 Views icon16684 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Tata Motors signs MoU with govt of Tamil Nadu, to invest Rs 9000 crore in five years

Tata Motors has signed an MoU with the Minister of Tamil Nadu to establish a cutting-edge vehicle manufacturing facility, committing an investment of Rs 9,000 crore over a five year period, and generating up to 5,000 jobs. 

In an official communication, the company said: "Tata Motors Group, India’s leading manufacturer of commercial and passenger vehicles has signed a facilitation Memorandum of Understanding (MoU) with the government of Tamil Nadu to explore setting-up of a vehicle manufacturing facility in the state. The MoU envisages an investment of Rs 9,000 crores over 5-years and can potentially create up to 5,000 jobs (direct and indirect)."

Following the signing of this MoU, teams from Guidance, Tamil Nadu's nodal agency for investment promotion and facilitation and Tata Motors Group will work together to take this opportunity forward.

The MoU was exchanged in the presence of the Chief Minister of Tamil Nadu, M.K. Stalin and signed between V Vishnu, IAS, Managing Director & CEO, Guidance, and PB Balaji, Group CFO, Tata Motors

The Minister for Industries Dr. TRB Rajaa, the Secretary of Industries, Investment Promotion & Commerce Department Mr. Arun Roy IAS, and senior officials of TATA Motors Group were also present.

"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," TRB Rajaa said. 

"Remarkably, this initiative marks the second OEM entry into Tamil Nadu just 65 days after the Tamil Nadu Global Investors Meet 2024, showcasing the State's reputation as a reliable, supportive, and progressive partner," Guidance Tamil Nadu noted. 

Tamil Nadu is clearly emerging as the next big business destination. On February 25, 2024, 50 days after it signed a comprehensive memorandum of understanding (MoU) with the government of Tamil Nadu on January 6, 2024, Vietnamese electric vehicle manufacturer VinFast had the ground-breaking ceremony of its integrated EV plant at Thoothukudi (formerly Tuticorin) in Tamil Nadu. The plant site spans 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate. 

RELATED ARTICLES
Next-Gen Tata Harrier and Safari Likely to Feature All-Wheel Drive System

auther Autocar India calendar05 Jul 2025

The second-gen Harrier and new-gen Safari are codenamed Taurus and Leo, respectively.

Exclusive - Tata Motors Plots Comeback with New Nexon, Sierra, Avinya Brand and Compact Lifestyle SUV in Rs 35,000 Cr Overhaul

auther Ketan Thakkar calendar05 Jul 2025

Tata targets ₹10–20 lakh sweet spot and premium electric space with multi-platform offensive across ICE, EV, and hybrid ...

Exclusive: Tata Motors Partners Desay SV to Accelerate Software-Defined Vehicle Strategy

auther Ketan Thakkar calendar05 Jul 2025

Desay SV to support Tata Motors in building SDV platform for EVs and ICE vehicles across segments.