Tata Motors looks to build 9000 crore plant in Tamil Nadu

Mar13,2024



Chennai: automobile huge Tata Motors plan to build a vehicle plant Tamil Nadu with Rs 9,000 crore Investmentis stepping up its game in the world's third largest automobile market.
Although the company did not specify whether the facility would manufacture commercial or passenger vehicles, analysts expect it to introduce passenger vehicles after a potential deal to acquire Ford Motors' Tamil Nadu car plant falls through. Tata Motors later acquired the US company's Gujarat car facility for over Rs 726 crore.
The Tata Group flagship company, which is the second largest automobile company in terms of market value after Maruti Suzuki, on Wednesday signed an MoU with the Tamil Nadu government in the state capital Chennai.
The plant, expected to be set up in Ranipet district near Vellore, will be Tata Motors' second plant in South India after Dharwad in Karnataka. The Ranipet facility is expected to create 5,000 jobs. Tamil Nadu Chief Minister MK Stalin has set a target of creating a $1 trillion economy in the state by 2030. Tata Electronics, a subsidiary of Tata Motors, which aims to become India's first domestic, full-service supplier for Apple, has invested Rs 7,650. Rs crore to build a facility in Hosur, Tamil Nadu. Currently, the facility makes enclosures for iPhones.
The Tata Motors deal is the second auto investment that Tamil Nadu has attracted in recent months after Vietnam-based VinFast announced an investment of Rs 16,000 crore to build an electric vehicle plant in Thoothukudi. State Industries Minister TRB Raja said, “Investors are liking Tamil Nadu because of the existing infrastructure, ease of doing business and availability of talent and this is just a beginning as many manufacturers are going to enter Tamil Nadu.”



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