CHENNAI: Tata Motors signed an MoU with Tamil Nadu govt on Wednesday to build a 9,000-crore vehicle manufacturing facility in Ranipet district that is likely to generate more than 5,000 jobs. This is the second billion-dollar auto investment in Tamil Nadu in the past two months, after VinFast of Vietnam announced a 16,000-crore electric vehicle factory in Tuticorin.
State industries minister T R B Rajaa said the Tata project would bring in "high quality jobs" including for women. "We would like to see 90% women workforce," he said.
It is not clear whether Tata Motors will produce EVs or commercial vehicles at Ranipet. "They are keeping it open and will decide based on market trends," said Rajaa. The ground-breaking of the Tata Motors facility will happen in a few months, he said.
There are two-three options for the factory site, which will be spread around 500 acres.
Tata Motors, Rajaa said, decided on Tamil Nadu because of the incentives and ecosystem on offer. This is the Tatas first big auto investment in the state. At the Global Investor Meet in Jan 2024, the Tata Group had announced investments close to ₹67,000 crore in the state in power and electronics.
"This govt has attracted investments to the tune of ₹10 lakh crore and we are aiming at a conversion rate of 70%," Rajaa said.
Shortly after the agreement was signed, CM M K Stalin posted on X saying, "In a landmark move, Tata Motors inked an MoU with the govt of Tamil Nadu to establish a vehicle manufacturing facility, investing ₹9,000 crore and creating more than 5,000 jobs. With this investment, Tamil Nadu further solidifies its position as the unrivaled automobile capital of India, reminiscent of the transformative impact of Hyundai's investment during Kalaignar's tenure."
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