Tata Motors raises PV bet with ₹35K-cr plan for 5 yrs

TATA MOTORS plans to pump in ₹35,000 crore into its passenger vehicle (PV) business over the next five years to power the launch of 30 products, including a range of electric vehicles (EVs).

- SWARAJ BAGGONKAR

The company has outlined ambitions of raising its market share for passenger vehicles (including EVs) to 16% by FY27 and to 18-20% by FY29.

The Mumbai-based firm, which currently accounts for 13% market share, has been under pressure due to the rise of rivals Mahindra & Mahindra, Toyota and JSW MG Motor.

The automaker has lined up at least seven new models and 23 facelifts & refreshes between FY26 and FY30, according to a presentation filed with the exchanges. With the addition of these new models, which include Sierra and the Avinya range, Tata Motors will have more than 15 models. A few days ago, it launched the electric version of the Harrier SUV with a drive range of more than 600 kms.