New Delhi: Tata Motors Chairman N Chandrasekaran said on Friday that the company will invest Rs 28,900 crore in the current financial year. The investment will be made primarily in the group’s British arm Jaguar Land Rover, along with the domestic business.
Addressing the company’s annual general meeting digitally, he said that Tata Motors will look at raising separate capital for electric vehicles at an appropriate time. The company aims to achieve 25 per cent contribution of EVs to the total sales in the medium to long term. Right now it is 2 percent.
In response to a shareholder’s query related to the company’s investment, Chandrasekaran said, “Rs 28,900 crore will be invested in the financial year 2021-22. It was Rs 19,800 crore in 2020-21. Of the total investment of the current fiscal, Rs 3,000 to 3,500 crore will be invested in Tata Motors while 2.5 billion pounds will be invested in JLR.
He said, “We are investing in hydrogen fuel cells and we have also got the first order of 15 such vehicles from Indian Oil. A lot of work is being done in the area of hydrogen fuel cells. ”
On electric vehicles, he said, “We have a very ambitious target in this area. We want to contribute 25 per cent of the total sales from this segment in the medium to long term, which is currently 2 per cent.” Chandrashekhar said, “We will launch at least 10 models before 2025. We plan to move forward in this area very aggressively.
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