Tata Motors has inked a memorandum of understanding (MoU) with the Tamil Nadu government to establish a car manufacturing facility, investing Rs 9,000 crore and generating 5,000 jobs. The plant, to be located in the Ranipet district near Vellore, marks a significant stride in Tamil Nadu's industrial development.
This endeavor aligns with the state's vision of becoming a trillion-dollar economy by 2030. The agreement underscores Tata Motors' commitment to bolstering its presence in South India, marking its second plant in the region after Dharwad in Karnataka.