Tata Motors and Tamil Nadu Government sign MoU for vehicle manufacturing hub
By RACE Innovations Pvt Ltd - 23rd June 2024
The exchange of the MoU took place in the presence of Tamil Nadu's Honorable Chief Minister, Thiru. M.K. Stalin, with Mr. V Vishnu, IAS, Managing Director & CEO of Guidance, and Mr. PB Balaji, Group CFO of Tata Motors, signing the agreement. Also in attendance were Dr. TRB Rajaa, the Minister for Industries, Mr. Arun Roy IAS, Secretary of Industries, Investment Promotion & Commerce Department, and senior officials from Tata Motors Group.
India - Tata Motors Group of Mumbai, a manufacturer of commercial and passenger vehicles, has inked a facilitation Memorandum of Understanding (MoU) with the Government of Tamil Nadu, aiming to explore the establishment of a vehicle manufacturing facility within the state. The MoU outlines an investment over a span of five years, with the potential to generate up to 5,000 jobs, both directly and indirectly.
After the MoU's signing, teams from Guidance, Tamil Nadu's key agency for investment promotion and facilitation, and Tata Motors Group will collaborate to advance this opportunity.
