Tamil Nadu chief minister MK Stalin and his core team have met a number of American companies as part of an overseas Tamil Nadu Investor Conclave, aiming to get them to invest in new facilities or expand their existing operations in the southern state which is a thriving automotive hub.
11 Sep 2024 | 7844 Views | By Ajit Dalvi
MK Stalin, Chief Minister of Tamil Nadu, and his core team have been meeting a number of American companies in the automotive and other sectors as part of a concerted effort to draw additional investments into the southern state, which is an automobile as well as auto component hub.
This is an Autocar Pro Plus article. Subscribe to continue reading.
MK Stalin, Chief Minister of Tamil Nadu, and his core team have been meeting a number of American companies in the automotive and other sectors as part of a concerted effort to draw additional investments into the southern state, which is an automobile as well as auto component hub.
Earlier today, they met Ford Motor Co. MK Stalin tweeted: “Had a very engaging discussion with the team from @Ford Motors! Explored the feasibility of renewing Ford’s three-decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world!”
In March 2024, Ford Motor Company’s president, International Markets Group, Kay Hart, had visited India, hinting at the American brand's comeback in the country, which is currently among the fastest growing automobile markets in the world. It is understood that a market launch of the new Endeavour is being closely looked at, along with a made-in-India affordable EV platform. Ford had exited the Indian market in FY2022.
On September 10, the Tamil Nadu government signed an MoU with software major Autodesk, which has a strong presence in the automotive industry, to skill youth and boost MSMEs and startups, as part of an effort to strengthen the overall industrial ecosystem in Tamil Nadu. The same day saw a meeting with Rockwell Automation involving a Rs 666 crore investment MoU for expansion of the electronics manufacturing company in Kanchipuram.
On September 6, in Chicago, three MoUs were signed, with a combined value of Rs 850 crore, with Visteon, Lincoln Electric and Vishay Precision. Visteon, which already has a strong presence in Tamil Nadu, has signed an Mou for setting up of electronics manufacturing units in Chennai and Coimbatore.
Lincoln Electric, a global leader in welding, cutting and automation products, also manufactures EV chargers. The MoU for an investment of Rs 500 crore is for expansion of Lincoln Electric's R&D manufacturing facility in Chengalpattu district of Tamil Nadu. The Malvern, Pennsylvania-based Vishay Precision whose product portfolio includes miniature data acquisition systems and sensors thar help advance automotive safety testing.
There is also an MoU signed with Eaton for a Rs 200 crore investment, expansion of Eaton's manufacturing facility in Chennai, and the setting up of a research and development global application engineering centre.
On September 4, in San Francisco, an MoU was signed with Ohmium for a proposed Rs 400 crore investment in Chengalpattu district, creating 500 jobs. Ohmium designs, manufactures and deploys hyper modular, scalable proton exchange membrane (PEM) electrolyzers that enable cost-competitive green hydrogen production. In the form of fuel, by fuel cells or combustion engines, hydrogen can be used as a sustainable alternative to petrol or diesel. Green hydrogen – produced by 100% renewable energy – is an emissions-free option for both large and small transportation applications.
ALSO READ:
Ford to build more EV software capability at Chennai tech hub