The move by comes barely a month after the Tata Group — the parent company of Tata Motors — lost its Chairman Emeritus, Ratan Tata, who died due to age-related issues at Mumbai Breach Candy Hospital on October 9. He was 86. Following Ratan’s demise, his half-brother Noel Tata, was picked as the new chairman of Tata Trusts.
Ratan Tata News: In a major move, expected to generate around 5,000 jobs, Tata Motors has revealed that its greenfield facility in Tamil Nadu will be operational by 2032 where the Indian car maker, along with Jaguar Land Rover (JLR), its British luxury automaking arm, will build both ICEVs and EVs for domestic and global markets.
P.B. Balaji, Chief Financial Officer (CFO), Tata Motors, said Tamil Nadu facility will build Tata models as well as those from JLR.
“As far as the Chennai plant is concerned, it’s a Tata Motors plant and will be a combination of both EVs and ICEVs. It is going to be a flexible plant that and the timeline for completing the project is the 2032,” the CFO said in a post-earnings media conference call on Friday, according to Moneycontrol.
Earlier this year, Tata Motors had signed a memorandum of understanding (MoU) with the Tamil Nadu government to establish a vehicle manufacturing facility in Ranipet. Later, the Tata Group announced that it has earmarked Rs 9,000 crore for the car manufacturing unit, which is expected to generate about 5,000 jobs.
The move comes barely a month after the Tata Group — the parent company of Tata Motors — lost its Chairman Emeritus, Ratan Tata, who died due to age-related issues at Mumbai Breach Candy Hospital on October 9. He was 86.
Following Ratan Tata’s demise, his half-brother Noel Tata, was picked as the new chairman of Tata Trusts, an umbrella group of charities which holds 66% stake in Tata Sons — the holding company of Tata Group.
Meanwhile, Balaji revealed that the Tamil Greenfield facility will be operational by 2032 and will manufacture “all the cars that are needed”, including JLR models.
“The latest we have to do it is by 2032 but we’ll get it much earlier than that. And the Tata Motors factory, which will make all the cars that are needed, will also have JLR cars also coming out of that facility. It will be a full-fledged factory,” the Tata Motors CFO said.