Tata Group Chairman Chandrasekaran Meets TN Chief Minister Stalin

Tamil Nadu chief minister M K Stalin wants to fulfil the DMK’s election manifesto promises and prepare the ground for 2024 Lok Sabha elections. More significantly, he needs to project his intention to create and save jobs. The shutdown of Ford Maraimalai Nagar plant remains a vexing issue. It had accumulated losses of over $2 bn. Recently, Tata Group’s Chairman N Chandrasekaran along with Tata Motors Executive Director Girish Wagh visited Stalin’s camp office. Also part of the meeting were Tamil Nadu chief secretary, ministers Thangam Thennarasu and Udhayanidhi Stalin. It was a courtesy call but it is clear that the Tamil Nadu government has been feverishly looking for a new owner to take over Ford Chennai plant. It may be recalled that Tatas have already bought over Ford’s Sanand plant in Gujarat. So buying Ford’s Maraimalai Nagar plant seems a logical conclusion. Both these plants can crank up Tata’s EV capacity. Currently, with significant bookings for Nexon EV, and Tiago. Tatas are able to meet only 50 % of the demand. The Ford Chennai plant has a number of hidden assets — its erstwhile vendor team supplied 40% of their captive production, the trained workforce can be retrained and logistics support of the Port is one of the biggest advantages.  Tatas have taken a lead in EV, and if this acquisition happens then Chennai could emerge as an EV hub.