Tata Motors to invest Rs 28,900 crore in Jaguar Land Rover, the company's chairman announced

Tata Motors to invest Rs 28,900 crore in Jaguar Land Rover, the company’s chairman announced

Tata Motors chairman said that the company will invest Rs 28,900 crore in Jaguar Land Rover in the financial year 2021-22, which was Rs 19,800 crore in 2020-21.

Tata Motors

Tata Motors, one of the country’s leading automakers, is constantly striving to improve its brand. In this episode, the company’s chairman N Chandrasekaran, while addressing the annual general meeting of Tata Motors virtually, said that the company will invest Rs 28,900 crore in the current financial year. The investment will be made primarily in the group’s British unit Jaguar Land Rover, along with the domestic business. Along with this, he also said that Tata Motors will look at raising capital for electric vehicles when the time comes. The company’s target is to achieve 25 percent of the total sales of electric vehicles in the medium to long term, which is only 2 percent at present.

In response to a shareholder’s query related to the company’s investment, Chandrasekaran said, “Rs 28,900 crore will be invested in the financial year 2021-22. It was Rs 19,800 crore in 2020-21. Of the total investment of the current fiscal, Rs 3,000-3,500 crore will be invested in Tata Motors while £2.5 billion will be put in JLR.

The company is working on hydrogen fueled vehicles

He said, “We are investing in hydrogen fuel cells and we have also got the first order for 15 such vehicles from Indian Oil. A lot of work is being done in the field of hydrogen fuel cells. ” Chandrasekaran further said that we have already manufactured seven such vehicles. But these are still in the testing phase and for this we need a long term plan.

On electric vehicles, he said, “We have a very ambitious target in this area. We want to contribute 25 per cent of the total sales from this section in the mid to long term, which is presently 2 per cent. We will launch at least 10 models before 2025. We plan to move forward in this area very aggressively.

91 people of Tata Motors died due to COVID-19

It was informed in the Annual General Meeting that Tata Motors lost 91 people associated with the company’s operations due to COVID-19. The company has said that it is ready to “do whatever is possible” to help the affected families. He said that, for our company, Tata Motors, it was a very difficult year. Our immediate focus during the year was on the safety and well-being of our employees and our ecosystem partners. Despite our best efforts, we lost 91 people in this struggle. Our heartfelt condolences to their families and loved ones. Chandrasekaran said the company would “make every effort” to support the families of the deceased.

Commenting on the impact of the pandemic, he said the global health crisis has led to disruptions in production supply chains and retail networks as well as reduced consumer demand. Chandrasekaran said that despite the challenging financial year 2021, the company is on track to become a zero-debt company by the financial year 2023-24. Zero-debt means that the debt burden on the company comes to the level of cash lying with it.

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