Tata Motors, which bought Jaguar and Land Rover from Ford Motor Co., plans to invest 60 billion rupees over the next four to five years to expand its manufacturing plants and set up vehicle testing facilities in the Pune district of Maharastra. It has signed a memorandum of understanding with the government of Maharashtra for the investment.
On the other hand, Mahindra & Mahindra also signed a memorandum of understanding (MoU) with the Maharashtra Government to further boost its investment at Chakan. The company will invest an additional Rs. 1,500 crore to the already invested Rs. 2,500 crore taking the total to Rs. 4,000 crore. This will be utilised towards the development and production of all vehicles to be rolled out from the project at Chakan.
Maruti Suzuki which unveiled the entry level sedan DZire, last week will also invest Rs 9, 000 crore for capacity expansion and research till 2010