Tata Motors
Tata Motors to invest Rs 15,000 cr in EV in 5 years: Report
Tata Motors is looking to expand in the EV segment with an investment of Rs 15,000 crore in the next five years, media reports said citing top company officials.
The company is already a leader in the emerging electronic vehicle market with offerings like Nexon and is planning to introduce 10 more models President for Passenger Vehicles Business of Tata Motors Shailesh Chandra said.
"As far as future is concerned, in next five (years) we will invest Rs 15,000 crore in electrification. We are going to work on nearly 10 products with different kinds of body styles, price, driving range options,” Chandra said.
The company had raised USD 1 billion in funding from private equity major TPG in its EV division, valuing the business at USD 9.1 billion.
Chandra was speaking at an event to deliver a batch of 101 EVs to residents of the city as part of the Aurangabad Mission for Green Mobility (AMGM) by local groups, news agency PTI reported.
An order for 250 EVs has been placed under the AMGM, the report said.
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