Chennai- Mahindra and Mahindra Ltd., an Indian multinational automotive manufacturing corporation has signed a Memorandum of Understanding (MoU) with the Government of Tamilnadu on 4 th July 2022. As part of this MoU, M&M committed to make an additional investment of Rs. 500 crores in span of 4 years from April 2022 and would create employment for minimum 850 people.
As per the terms, the company has an Investment proposal worth Rs. 210 Crore in Mahindra Research Valley (MRV), Rs. 290 Crore worth Investment in Mahindra SUV Proving Track (MSPT), SIPCOT Cheyyar Industrial Park and Rs. 12 Crore worth Investment in their Information Technology Facility located in Coimbatore.
The Honourable Chief Minister of Tamil Nadu today virtually Inaugurated first phase of the Investment Battery Test lab located in Mahindra Research Valley Chengalpattu District. It is noteworthy that the Inaugural ceremony is taking place within a year’s time from the date of establishment of the MoU.
In addition, The Honourable Chief Minister of Tamil Nadu today laid the foundation stone for the EV Crash Test Lab and Battery Prototyping Centre with estimate of Rs. 290 Crore located in Mahindra SUV proving Track, SIPCOT Cheyyar Industrial Park.
In this Inaugural event, Honourable Minister for Industries, Investment Promotion and Trade Dr. T.R.B. Rajaa, Chief Secretary to Govt. of Tamil Nadu Mr. shiv Das Means, IAS, Mr. S Krishnan, IAS Additional Chief Secretary to Govt. Industries Department, Mr. V. Vishnu IAS. MD & CEO Guidance Tamil Nadu, Senior Management officials from Mahindra & Mahindra Mr. Velusamy R, Ms. Abanti Sankaranarayanan, Mr. Sakthivelan S, Mr. Boita Dhananjay Rao and other senior officials from Government were also present.
Tamil Nadu is one of the leading states in the production of Automobiles and Automobile spare parts. Enhancing such Research and Development capabilities will further strengthen the position of Tamil Nadu in terms of Industrial growth.
The Mahindra Research Valley (MRV) R&D facility was setup in 2012 spanning 125 acres in the Mahindra World City, Chengalpattu, Tamil Nadu. MRV was the first R&D centre in the world that brought Automobile and Tractor Product Development together under one roof. In recent times, MRV has successfully launched many new vehicle models such as XUV500, THAR, XUV 300, KUV 100, Alturas, TUV 300, Arjun Novo, Yuvo and Jivo etc. In addition to this, Mahindra’s 454-acre test track in SIPCOT Cheyyar is focussing on vehicle testing and validation, ride handling and other capabilities.
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