Riding high after a funding boost, Tata Motors could invest as much as Rs 15,000 crore to ramp up electric vehicle production – EQ Mag Pro

Tata Motors NSE 5.88 % has major plans for its EV division with 10 new launches in next four years and plans for investing up to Rs 15,000 crore, Times of India reported.

This comes just days after private equity major TPG Rise Climate decided to invest $1 billion in Tata Motors EV segment at a valuation of $9.1 billion.

Tata Motors, which has two EV offering as of now, is already a market leader with around 70% share in EV segment.

“With just two green products right now (Nexon and Tigor EVs), we are getting bookings of 3,000-3,500 units per month. However, we are able to supply only around 1,000 units… We are now lining up new investments to the tune of $2 billion just for electrics and this would be used to add 10 new green vehicles, boost production capacity and charging infrastructure, and create IP (intellectual property),” Shailesh Chandra, President of Tata Morors PV business, told Times of India.

Chandra further added that the some of the new launches could be ‘electric only’ products.

Tata Motors is averaging around 30,000 units over the past few months and with the launch of its mini SUV Punch, the demand is likely to go up furthr.

Source: ET Online