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Tata and Mahindra To Invest Rs. 10,000 Crore in Pune

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In two separate commitments, Mahindra and Mahindra and Tata Motors have announced a total investment of Rs. 10,000 crore in Chakan, a suburb of Pune.

Tata Motors will be investing Rs. 6,000 crore over a five-year period to upgrade its existing plant and to set up a vehicle testing facility in Chakan. Mahindra and Mahindra will invest Rs. 4,000 crore in a spanking new plant to manufacture medium and heavy commercial vehicles.

Mahindra and Mahindra’s greenfiled plant will have capacity of 300,000 vehicles a year.

The investments were part of a Rs. 25,000 crore commitment by various car companies to invest in Maharashtra. There were more announcements in the pipeline.

The development symbolizes a return the auto industry to Maharashtra.

“We had gone out of Maharashtra, but this government has assured us of cooperation, and reinstated our confidence in the state”, said Kant. His sentiment was echoed by Keshub Mahindra, Chairman, Mahindra group.

Chakan is Pune’s answer to automobile hubs in other parts of the country, including Gurgaon and Delhi. The Pune suburb now has four major carmakers, apart from numerous spares manufactures.

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Tags: auto industry, car makers, commercial vehicles, global markets, government of maharashtra, mahindra and mahindra, Tata motors