Tata Motors announced on Wednesday its plan to build a modern vehicle manufacturing facility in Ranipet, Tamil Nadu, with an investment of ₹9,000 crore. The company signed a memorandum of understanding (MoU) with the Tamil Nadu government to set up this plant, which will be its second in southern India. The new facility is expected to create around 5,000 job opportunities.
Tamil Nadu Chief Minister MK Stalin expressed his excitement about the investment, highlighting how it strengthens Tamil Nadu’s position as a hub for automobile manufacturing in India. He compared it to the significant impact Hyundai’s investment had during the tenure of the former Chief Minister, Kalaignar.
Stalin and top executives from Tata Motors were present in Chennai for the signing ceremony of the MoU. This plant will be Tata Motors’ second facility in southern India, with the first one located in Dharwad, Karnataka. This investment comes as a significant move for Tamil Nadu’s automobile industry, especially following the recent announcement by Vietnamese company VinFast.
State Industries Minister TRB Rajaa emphasized the importance of this investment for Tamil Nadu’s economy, stating that it marks a historic milestone. He reiterated Tamil Nadu’s status as the automobile capital of India and sees this investment as a key driver of growth for the state and the country as a whole.
