Tuesday, May 21, 2024

Stellantis India 2000 Crore Investment On track For EV And ICE Platforms

Follow Us On:

Follow Us On:

– Stellantis, a global automotive leader, reinforces its commitment to India with an additional INR 2,000 Crores investment under its Citroën brand in Tiruvallur district. This investment will be made over a period of next six years. It is in addition to the INR 1,250 Crores investment already executed within the state. Aligned with the Make in India initiative, this strategic move significantly expands the company’s presence, covering both Internal Combustion Engine (ICE) and Electric Vehicle (EV) manufacturing. The investment encompasses both capital expenditure and research and development activities at the Chennai Tech Center, enhancing Stellantis’ contribution to fostering regional economic growth.

Formally exchanged during the Global Investors Meet in Chennai, in the esteemed presence of the Honorable Chief Minister of Tamil Nadu, Thiru M.K Stalin, the non-binding MoU solidifies Stellantis’ fruitful partnership with the state. Initially committing INR 1,250 Crores in 2019, Stellantis surpassed this threshold in 2023. The additional investment showcases its accelerated pace and unwavering commitment to the region’s development.

stellantis-logo-768x432

Aditya Jairaj, CEO & MD of Stellantis India, emphasizes, “This substantial investment under the Citroën brand underscores our commitment to India’s automotive market. Tamil Nadu has consistently demonstrated its suitability for business, offering a conducive environment for growth. With firm state support, we aim to strengthen production capabilities and spearhead technological advancements, reinforcing our position as a driving force for sustainable growth and innovation.”

Recognizing Stellantis Group’s established presence and contributions, the Government of Tamil Nadu has pledged support, ensuring vital infrastructure and regulatory assistance. This commitment underlines the state’s dedication to fostering business growth.

Stellantis Group is committed to fostering innovation, sustainability, and growth in India’s automotive sector. By drawing on global expertise, the company, aims to shape a prosperous future for both the industry and the communities it supports.

Mohit Soni
Mohit Sonihttps://www.thrustzone.com/
NOT A Commander, Director, Editor-In-This/ That, CEO, MD, President, Entrepreneur, etc etc. Just a first employee at Thrust Zone with a team of enthusiasts who love car and motorcycles more than anything else in the world, just like I do. Hashtag blessed

Stay Connected

40,197FansLike
22,125FollowersFollow
1,531FollowersFollow
25,248SubscribersSubscribe
- Advertisement -

Latest Articles