Tata, M&M to invest Rs 7,500cr in Maharashtra:

Maharashtra has signed memorandum of understanding (MoU) with auto majors Tata Motors and Mahindra & Mahindra for investments of Rs 7,500 crore.While Tata Motors will invest Rs 6,000 crore to expand its manufacturing facility in Pune, Mahindra & Mahindra (M&M) will invest an additional Rs 1,500 crore at its upcoming greenfield project at Chakan.Tata Motors will invest Rs 6,000 crore over the next four-five years to expand capacity and set up a vehicle testing facility in Pune. The company will augment its capacity from 400,000 units to 600,000 units. The company is also planning to manufacture its small car, Nano, at Pune.M&M will manufacture medium and heavy commercial vehicles and other products from its Chakan facility. Pawan Goenka, president, automotive sector, M&M, said: "We had decided to make the state the launch pad for our commercial vehicles. The additional investment of Rs 1,500 crore will allow us to create a world-class manufacturing facility for 300,000 vehicles."