Mumbai: Tata Motors will invest as much as $ 2 billion (Rs 15,000 Crore) for the next four years to launch 10 new electric vehicles the same as a wider passenger vehicle division – which in losses up to several years ago – hopes to turn around and hope for Turn around and generate free cash flows in 2022-23, the top official said.
This step came in a few days from the private equity company TPG Rise Climate announced plans to pump $ 1 billion to the Division of Tata Motors passenger electricity vehicles with a $ 9.1 billion rating.
Shailesh Chandra, President of the Motorbike Motorcycle Passenger Vehicle Business Unit, said the company had a strong product launch plan for electricity, with 20% sales expectations from green powertrain more than four to five years.
“With only two green products today (Nexon and Tigor EV), we get ordering 3,000-3,500 units per month.
However, we can supply only around 1,000 units …
We now coat a new investment at a price of $ 2 billion only for electricity And this will be used to add 10 new green vehicles, increase production capacity and make IP, and make IP (intellectual property), “Chandra told toi here.
In September, the company said that the cumulative sales of electricity had crossed 10,000 units, with the main contributions that came from Nexon.
Recently launched an enhanced Tigor Electric Sedan, and hopes that the demand for EVS will remain strong because the central government and the state government offer the benefits of promoting green technology and vehicle charging networks become solid.
Although it remains strictly lying about future product plans, the company is understood to consider peeling some existing gasoline / diesel products that can include a Hatchback of Altros and the newly launched mini SUV punch.
Chandra said 10 new passenger vehicles would be a mixture of cars and SUVs.
Asked whether this would also include the new ‘electricity’ product, he said, “this will definitely include the ‘born electric’ product, which will be developed exclusively EV.” Tata Motors has also seen a broader surge in passenger vehicle business, with good demand for models such as Nexon SUVs, Tiago and Altros SUVs, and Premium Off-Roaders and Safari.
Apart from production constraints due to semiconductor deficiencies, the average monthly sales company of around 30,000 units over the past few months.
Chandra says that bulk selling products – will add further strong inflows into domestic volume.
It is expected that with a blow, the monthly volume of Tata Motors can cross 40,000 units, almost challenging Hyundai’s position as the second largest car seller in India.
“We do not pursue rankings.
We fully focus on our products and their success.” He said that the larger part of the SUV into the company’s portfolio, which could rise to 60% in the coming years, will help profitability.