The visit of Prime Minister Narendra Modi and his country's decision to officially make Greece the central transit hub of India to Europe opens the doors for Tata, which wants to enter Europe.
Tata Motors, the owner of the former British Jaguar Land Rover and a significant shareholder of the British Aston Martin, is an Indian multinational group of companies headquartered in Mumbai.
Founded in 1868, it is South Asia's largest conglomerate, with products and services in more than 150 countries and operations in 100 countries on six continents. In 2022, Tata Group's annual revenue reached $128 billion while employing 935,000 people.
Many countries have entered the European map to construct the production unit, with sources also mentioning Greece.
At the same time, according to what the BBC reports, the top executives of Tata Motors are in talks with the UK government and the British Prime Minister of Indian origin, Rishi Sunak. As mentioned in the publication, the two parties are very close to agreeing on the terms and signing the final text.
Details of the new battery factory for all-electric models have yet to be released, but 9,000 new jobs are expected to be created there.
To attract the investment, the British government offered Tata an incentive package worth hundreds of millions of pounds.
This development comes after the recent announcement by the Stellantis Group that it may have to close the UK Vauxhall factory if the government does not renegotiate the controversial Brexit deal.
As a representative of the Group stated, if some of its terms are not reviewed, the cost of manufacturing its pure electric vehicles there "becomes uncompetitive and unsustainable, operations will close."
