Tamil Nadu Chief Minister Jayalalithaa signed MoU with give different companies to speed up the process of setting up production facities near Chennai. Considered as auto hub of India, Chennai will greatly benefit from the current move.
Ashok Leyland-Nissan Motor Company joint venture will invest nearly Rs 4500 crore to setup commercial vehicle manufacturing facility. Yamaha will have its biggest facility in Chennai to manufacture scooters.
With a total investment of Rs 8000 crore on setting up automobile manufacturing facilties, the companies aim to create 9000 jobs. The companies already operating from Tamil Nadu are also considering enhancement of their current capacities. Currently, Hyundai, BMW, Nissan, Renault and Mitsubishi have manufacturing plants in Tamil Nadu.
Among others, Daimler-India Commercial Vehicles, Philips Carbon and Eicher Motors signed MoU with Tamil Nadu government.