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Anand Group to invest Rs 987 cr in Tamil Nadu for automotive manufacturing
Industry News- Jan 18,24
The Group formalised this commitment by signing a Memorandum of Understanding (MoU) with the state government during the recent Tamil Nadu Global Investors Meet 2024 in Chennai.
Anand Group, a prominent manufacturer of top-tier automotive components and systems, has unveiled plans to invest Rs 987 crore for the expansion of its manufacturing capabilities in Tamil Nadu. The Group formalised this commitment by signing a Memorandum of Understanding (MoU) with the state government during the recent Tamil Nadu Global Investors Meet 2024 in Chennai.
Under this MoU, the investment will be contributed by Anand Group and its Joint Venture Partners, including Inalfa Gabriel Sunroof Systems Private Limited, HL Mando Anand India Private Limited, Gabriel India Limited, HL Klemove, and Anand Mando E-Mobility Private Limited, as stated in a press release by the Group.
The signing ceremony, attended by the Chief Minister of Tamil Nadu, M K Stalin, reflects Anand Group's strategic alignment with advanced technology to meet the increasing demand for electric vehicles (EVs) and internal combustion engine (ICE) vehicles in the country. The agreement outlines the Group's focus on expanding manufacturing capabilities for various auto components, such as Sunroof Systems, Electronic Power Steering, Integrated Dynamic Brake System, and E-Motors for two-wheeler applications.
Anjali Singh, Executive Chairperson of Anand Group, expressed the Group's enduring commitment to Tamil Nadu, dating back to the 1990s, citing the state's favorable business environment, robust infrastructure, and skilled talent pool. Singh highlighted the intention to leverage their partners' strengths to provide cutting-edge manufacturing capabilities to Original Equipment Manufacturers (OEMs).
Anand Group, a supplier of cutting-edge technology parts to prominent OEMs like Hyundai, Tata Motors, Mahindra, TVS Motors, and OLA Electric, emphasised the MoU's focus on the localisation of critical components in support of the Central government’s Atmanirbhar Bharat plan for self-reliance in manufacturing.
S Sarathi, Group President and Chief Assurance Officer at Anand, expressed satisfaction in announcing these new projects in Tamil Nadu, known as the Detroit of India. This marks the fourth time Anand Group has entered into an MoU with the Tamil Nadu State Government, underscoring the government's proactive approach towards fostering a favorable industrial climate and ease of doing business.
The Anand Group, through its joint venture companies, has already generated over 6,000 job opportunities in Tamil Nadu. The anticipated impact of the latest investment is expected to create more than 2,000 job opportunities over a seven-year period. HL Mando Anand, a joint venture between HL Mando Korea and Anand Group in India, recently completed the execution of earlier MoUs signed in 2019 and 2020, amounting to a total investment of approximately Rs 1,000 crore and providing employment opportunities to over 500 people in the region.
Source: ET Auto
Anand Group
Tamil Nadu
Atmanirbhar Bharat
M K Stalin
Inalfa Gabriel Sunroof Systems
HL Mando Anand India
Gabriel India
HL Klemove
Anand Mando E-Mobility
Anjali Singh
S Sarathi
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