Big target of Tata group! 100 billion dollar revenue target from auto business by 2031; Big investment on JLR and EV

The Tata Group has announced an ambitious growth plan for the auto business, targeting $100 billion in revenue by fiscal 2031. Following the demerger of Tata Motors’ passenger and commercial vehicle businesses, the group has devised separate growth strategies for all four vehicle businesses. This information was given by Group Chairman Natarajan Chandrasekaran at the Annual General Meeting of Tata Motors Passenger Vehicles Limited.

According to Chandrasekaran, of the $100 billion revenue by 2031, Jaguar Land Rover (JLR) is expected to account for $45 to $50 billion, while the commercial vehicle business is expected to account for around $40 billion. The rest of the revenue will come from the passenger vehicle and auto components business.

Tata Motors will invest around 4 trillion rupees in its India business, while UK-based JLR will invest 20 billion pounds over the next five years. This investment will be used for new products, electrification, production capacity expansion and modern technology.

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Tata Motors aims to increase its share of the Indian passenger vehicle market from 14.2 percent to 20 percent by 2031. For this, the company will launch 6 new models and more than 20 product refreshes. The company has expressed high expectations from the comeback Tata Sierra model. According to Chandrasekaran, the Sierra could be one of Tata Motors’ best-selling vehicles in the future.

Tata Motors, which has around 45 per cent share of the electric vehicle (EV) market in India, plans to maintain its leadership by introducing new EV models in various price ranges.

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Tata Group’s battery manufacturing company Agratas Ltd. It will start production from 2027. The company will supply batteries to both JLR and Tata Motors locally, thereby helping to reduce EV production costs and strengthen the supply chain. The Tata Group’s long-term strategy is clearly focused on strengthening its position in the global automotive industry through electric vehicles, luxury cars, commercial vehicles and advanced battery technology.