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 ~INR 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 Hon’ble Chief Minister of Tamil Nadu, Thiru. M.K. Stalin and signed between Mr. V Vishnu, IAS, Managing Director & CEO, Guidance, and Mr. 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.
About Tata Motors
Part of the USD 150 billion Tata group, Tata Motors Limited (BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 42 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks, and buses, offering an extensive range of integrated, smart, and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market.
Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fuelled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. By focusing on engineering and tech- enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused on developing pioneering technologies that are both sustainable and suited to the evolving market and customer aspirations. The company is pioneering India’s Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by developing a tailored product strategy, leveraging the synergy between Group companies and playing an active role in liaising with the Government of India in developing the policy framework.
With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors markets its vehicles in Africa, the Middle East, Latin America, Southeast Asia, and the SAARC countries. As of March 31, 2023, Tata Motors’ operations include 88 consolidated subsidiaries, two joint operations, three joint ventures, and numerous equity-accounted associates, including their subsidiaries, over which the company exercises significant influence.
Source link:https://www.tatamotors.com/
