ENA Sectors 2024-06-03 14:17:37 <p><span style="font-size:14px"><strong>Chennai, Jun 3 (KNN)</strong> Tata Motors Group has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to set up a new electric vehicle (EV) manufacturing facility in the state.</span></p> <p><span style="font-size:14px">The automotive giant plans to invest around Rs 9,000 crore over the next five years for this project.</span></p> <p><span style="font-size:14px">The new manufacturing plant is expected to provide a significant boost to Tata Motors' EV production capabilities and reinforce its position in the rapidly growing electric mobility segment. The investment could potentially create up to 5,000 new job opportunities in the region.</span></p> <p><span style="font-size:14px">While specific details about the plant's location and production capacity are yet to be disclosed, sources suggest that the facility will likely serve as a hub for exporting EVs based on Jaguar Land Rover's (JLR) Electrified Modular Architecture (EMA) platform to international markets.</span></p> <p><span style="font-size:14px">The development comes as Tata Motors aims to leverage its globally competitive EV technology and capitalise on the increasing global demand for electric vehicles.</span></p> <p><span style="font-size:14px">The company's passenger EV arm, TPEM, has already launched models based on its indigenous EV architectures and plans to introduce the premium Avinya series based on JLR's EMA platform through a technology-sharing agreement.</span></p> <p><span style="font-size:14px">The new Tamil Nadu plant is expected to produce both JLR models and Tata's own EVs built on the EMA platform, catering to domestic and export markets.</span></p> <p><span style="font-size:14px">This move aligns with Tata Motors' broader strategy to establish a strong presence in the electric mobility space and reduce its carbon footprint.</span></p> <p><span style="font-size:14px">The project is subject to various factors, including approval from Tata Motors' board of directors and the execution of binding agreements between the parties involved.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38045 https://knnindia.co.in/news/newsdetails/sectors/tata-motors-to-invest-rs-9000-crore-in-new-tamil-nadu-ev-manufacturing-plant 2024-06-03 14:17:37 knnindia.co.in