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Tata Motors to Invest Rs 15,000 Crore in EV Business

  • Posted by Rakhi Jha On 16-Oct-2021 07:34 AM


Tata Motors to Invest Rs 15,000 Crore in EV Business


Flush with funds from TPG Rise Climate which has decided to invest a seventh of its $ 7 billion crores, Tata Motors is planning to invest Rs 15,000 crore over the next 5 years when it said it would launch 10 new products. Tata said it would invest in new platforms, technologies and further localise its EV vertical.

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"We have always been bullish about EVs but there is a definite surge in demand right now. A number of factors are helping it. Favourable policies both from centre and states, increase in fuel prices as well as ICE vehicles post-BS-VI emission norms are working in favour of EVs," said P Balaji, chief financial officer, Tata Motors. "We have seen a 1.5-2x growth every year between FY 2017 and FY 2021. In the current financial year alone the growth is projected at 2.5-2.7x."