Tamil Nadu chief minister MK Stalin on September 28 will lay the foundation stone for the JLR and Tata Motors manufacturing facility in Ranipet, almost six months after the two sides signed the agreement for the facility.
In March, Tata Motors announced that it signed a contract with the Tamil Nadu government for a Rs 9,000-crore manufacturing plant, which is expected to create 5,000 jobs.
Tata Motors is the second automobile company in recent months to partner with Tamil Nadu.
Also read: Tata Motors to build Rs 9,000-cr plant in Tamil Nadu; to generate 5,000 jobs
In February, Stalin laid the stone of the electric vehicle and battery manufacturing facility of VinFast Auto Ltd, a Vietnamese electric vehicle company, which earmarked Rs 16,000 crore for investment in the state.
Also read: Tata Motors to build Rs 9,000-cr plant in Tamil Nadu; to generate 5,000 jobs
On March 4, Tata Motors approved the demerger of its business into two separate units: commercial vehicles (CV) business and passenger vehicles (PV) business. PVs include electric vehicles (EVs) and Jaguar Land Rover (JLR).
Also, read: Tata Motors to use new $1 billion plant to make Jaguar Land Rover cars: Report
This will be the automobile majors' second plant in South India. The country's leading electric vehicle manufacturer already has a facility in neighbouring Karnataka’s Dharwad.
On September 13, American Ford Motor said it planned to restart a manufacturing plant in Tamil Nadu for exports. The announcement to reopen the facility in Maraimalai Nagar came during Stalin’s visit to the United States and three years after the company exited India.
The Tata Motors stock ended the day at Rs 988.45 on the National Stock Exchange, down 0.37 percent from the previous close.
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