Tata Motors invests Rs 90 bn sets up Tamil Nadu plant
18 Mar 2024
2 Min Read
CW Team
Tata Motors announced that they had entered into an agreement with the Tamil Nadu government to establish a vehicle manufacturing plant in Ranipet near Vellore, with an investment of Rs 90 billion.
According to a statement from the state government, the investment, spread over five years, is anticipated to generate more than 5,000 jobs.
This development coincides with the company's decision to divide its passenger and commercial vehicles businesses into two separate listed entities. The trucks and buses segment, along with associated investments, will be consolidated under one entity, while the other will encompass passenger cars, electric vehicles (EVs), and Jaguar Land Rover.
VinFast, an EV manufacturer based in Vietnam and a competitor of Tesla on the global stage, has commenced construction of its Rs 16,000 crore EV manufacturing facility in Thoothukudi, Tamil Nadu. This move is perceived as an effort to broaden its manufacturing presence in South India. The company already operates manufacturing plants in Dharwad (Karnataka), Jamshedpur (Jharkhand), Pune (Maharashtra), Lucknow (Uttar Pradesh), Pantnagar (Uttarakhand), and Sanand (Gujarat).
State Industries Minister T R B Rajaa remarked, Over the past couple of years, Tamil Nadu has become a prominent destination for investments. He added, We are not just establishing factories; we are nurturing aspirations and progressing towards a brighter, more prosperous future.
After the signing of the memorandum of understanding (MoU), teams from Guidance, the nodal agency in Tamil Nadu for investment promotion and facilitation, and Tata Motors will collaborate to advance this opportunity. The MoU was exchanged between Guidance's Managing Director and Chief Executive Officer V Vishnu and Tata Motors Group's Chief Financial Officer P B Balaji in the presence of Chief Minister M K Stalin.
Tata Motors announced that they had entered into an agreement with the Tamil Nadu government to establish a vehicle manufacturing plant in Ranipet near Vellore, with an investment of Rs 90 billion.
According to a statement from the state government, the investment, spread over five years, is anticipated to generate more than 5,000 jobs.
This development coincides with the company's decision to divide its passenger and commercial vehicles businesses into two separate listed entities. The trucks and buses segment, along with associated investments, will be consolidated under one entity, while the other will encompass passenger cars, electric vehicles (EVs), and Jaguar Land Rover.
VinFast, an EV manufacturer based in Vietnam and a competitor of Tesla on the global stage, has commenced construction of its Rs 16,000 crore EV manufacturing facility in Thoothukudi, Tamil Nadu. This move is perceived as an effort to broaden its manufacturing presence in South India. The company already operates manufacturing plants in Dharwad (Karnataka), Jamshedpur (Jharkhand), Pune (Maharashtra), Lucknow (Uttar Pradesh), Pantnagar (Uttarakhand), and Sanand (Gujarat).
State Industries Minister T R B Rajaa remarked, Over the past couple of years, Tamil Nadu has become a prominent destination for investments. He added, We are not just establishing factories; we are nurturing aspirations and progressing towards a brighter, more prosperous future.
After the signing of the memorandum of understanding (MoU), teams from Guidance, the nodal agency in Tamil Nadu for investment promotion and facilitation, and Tata Motors will collaborate to advance this opportunity. The MoU was exchanged between Guidance's Managing Director and Chief Executive Officer V Vishnu and Tata Motors Group's Chief Financial Officer P B Balaji in the presence of Chief Minister M K Stalin.
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
