Tata to invest Rs. 2,500 crore in the passenger vehicle segment; CV segment to receive Rs. 1,500 crore
Tata Motors is ready to invest more than Rs. 4,000 crore to boost its sales in both the passenger car and commercial vehicle segments. The whopping amount of money will be spent to develop products, expand network. The passenger vehicle segment will receive an investment of around Rs. 2,500 crore, while the automaker will pump in around Rs. 1,500 crore in the commercial vehicle segment.
Despite having a strong customer base, Tata Motors has been experiencing loss in a highly competitive Indian market. In order to return to profitability, the auto manufacture is trying to modernize its products and offer the customers better sales and after sales experience. The investment of Rs. 4,000 crore will be spent for these only.
Also read: 7 Upcoming Tata Cars in India in 2017, 2018
In recent times, Tata Motors has been emphasising on launching new and global standard products with exciting design, upmarket features alongside powerful and efficient powertrains. As a result we have seen the introduction of the Tiago, Tigor, Hexa and the Nexon. Apart from that, the homegrown auto major is also working on upcoming products like X451 premium hatchback, X451 sedan, Q501 and Pelican.
To return to profitability, Tata is also streamlining its organisation and operation and cutting costs as well. The automaker is the strongest player in the domestic commercial vehicle market. In order to strengthen the grip in the CV segment, Tata has shelved its plan of launching its first sportscar Racemo that created quite a sensation right after the unveiling at Geneva Motor Show.
Tata is also aiming to grab a sizeable share in the electric vehicle market considering the Indian government’s strategy to introduce all-electric mobility across the country by 2030. The automaker is preparing to produce a pure-electric Tiago hatchback. Also, in the CV segment too, Tata has started trial run of its electric powered buses.
Tata Nexon Gallery