This move it says is aligned with the Make in India initiative and will help significantly expand its presence, covering both Internal Combustion Engine (ICE) and electric vehicle (EV) manufacturing. The investment encompasses both capital expenditure (CAPEX) and R&D activities at the Chennai Tech Center, enhancing Stellantis’ contribution to fostering regional economic growth.
The non-binding MoU was formally exchanged during the Global Investors Meet in Chennai, in the presence of Chief Minister of Tamil Nadu, M K Stalin.
