The Anand Group pledges to invest Rs. 987 crore in Tamil Nadu

The Anand Group pledges to invest Rs. 987 crore in Tamil Nadu

The Anand Group pledges to invest Rs. 987 crore in Tamil Nadu

At the just-completed Global Investors Meet 2024, the firm and the Tamil Nadu government inked a memorandum of understanding (MoU) for additional investments to strengthen the business's manufacturing capabilities in the area, according to a statement.

Anand Group, a manufacturer of auto components and systems, said on Monday that it had invested Rs 987 crore in Tamil Nadu with the goal of facilitating the state's production of cutting-edge technological goods for both conventional and electric automobiles.

At the just-completed Global Investors Meet 2024, the firm and the Tamil Nadu government inked a memorandum of understanding (MoU) for additional investments to strengthen the business's manufacturing capabilities in the area, according to a statement.

Anand Group as well as its joint venture suppliers, Inalfa Gabriel Sunroof Systems Pvt Ltd, HL Mando Anand India Pvt Ltd, Gabriel India Ltd, HL Klemov, as well as Anand Mando E-Mobility Pvt Ltd, will make the investment under the terms of the Memorandum of Understanding. Added.

The firms within the group want to concentrate on augmenting their production capacities for diverse automotive components, such as electronic power steering, integrated dynamic braking systems, sunroof systems, and e-motors intended for two-wheeler applications.

The robust infrastructure, competent labor pool, and business-friendly climate of the state have made it a desirable place to make new investments.

"We intend to utilize our partners' strengths to furnish Original Equipment Manufacturers (OEMs) with cutting-edge manufacturing capabilities," said Anjali Singh, the Executive Chairman of Anand Group.

The firm provides to OEMs including Hyundai, Tata Motors, Mahindra, TVS Motors as well as Ola Electric.