India's Tata Motors to build $1.1 billion plant in Tamil Nadu

Reuters

13 March 2024 at 8:21 am·1-min read

Tata Motors' Altroz Racer is seen on display at Bharat Mobility Global Expo organised by India's commerce ministry at Pragati Maidan in New Delhi

BENGALURU (Reuters) -India's Tata Motors has signed a deal to build a 90 billion rupee ($1.09 billion) manufacturing plant in Tamil Nadu, the southern state's industries minister said on Wednesday on social media platform X.

The investment would be spread over five years and could create up to 5,000 jobs, Tata Motors said in an exchange filing.

Tata Motors, which makes cars, trucks and buses, did not specify what vehicles it would make at the new plant.

The announcement comes only days after Vietnamese electric vehicle maker VinFast started building a factory in Tamil Nadu with a view to starting production by the middle of next year.

Tamil Nadu capital Chennai, dubbed the Detroit of Asia, is home to factories of global carmakers including BMW, Daimler and Hyundai.

($1 = 82.8141 Indian rupees)

(Reporting by Praveen Paramasivam in BengaluruEditing by David Goodman)

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