Electric cars will come from TATA Motors and Jaguar Land Rover, Chandrasekaran said this
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Mumbai : There is great news for the lovers of luxury cars and that is that India’s domestic automaker Tata Motors and its subsidiary Jaguar Land Rover are preparing to bring electric vehicles. According to media reports, Tata Motors India and its luxury vehicle unit Jaguar Land Rover (JLR) have a big plan for electric vehicles. However, the company does not intend to bet on hybrid vehicles at the moment. Tata Motors Chairman N Chandrasekaran has said this on Tuesday.
Tata Motors will emphasize on electric and green vehicles
Addressing the annual general meeting of Tata Motors online, Chandrasekaran said that the company is looking forward to convert at least 50 per cent of its vehicles into electric or green transport vehicles. Similarly, subsidiary JLR aims to bring 65 per cent of its vehicles on green technology by 2030. He said that JLR along with Tata Motors India has a comprehensive plan for electric vehicles. We have already launched many products. Our upgraded version of Nexon could arrive any time.
Tata Motors to bring EV model of Punch
Chandrasekaran told that this year the company will launch the electric model of Harrier. After that the EV model of Punch will come. He said that the company will continue to work on the execution of its strategy to achieve growth, profitability and free cash flow. He said that the domestic business of the company would achieve the target of ‘Zero Loan’ in the current financial year. At the same time, the subsidiary company Jaguar Land Rover is expected to achieve this goal in the calendar year of 2024.
Tata Motors working on strategy to accelerate growth
Addressing the shareholders, Chandrasekaran said that our journey ahead is very exciting. Our management teams are committed to accelerate this transformational journey. He added that Tata Motors will continue to focus on executing its strategy to deliver consistent growth, profitability and free cash flow.
Electric vehicles will be present in the portfolio
Chandrasekaran said that all three businesses of the company (Commercial Vehicles, Passenger Vehicles and Electric Vehicles) and Jaguar Land Rover are poised to achieve growth and leadership positions in their segments. He said that the company’s commercial vehicle business is focusing on growth along with profitability. The passenger car business is leading the electric vehicle segment to expand its portfolio.
Jaguar Land Rover to convert into electric vehicle
Referring to Jaguar Land Rover, he said that the shift towards electric transport is in the right direction for both Jaguar and Range Rover. Next year both Range Rover and Jaguar will see new launches and this will continue till 2025. Chandrasekaran said that the commercial vehicle business is on the cusp of a transformation from an OEM (Original Equipment Manufacturer) to a total solution provider.
Tata Motors target
Addressing the annual general meeting of Tata Motors online, Chandrasekaran said that the company is looking forward to convert at least 50 per cent of its vehicles into electric or green transport vehicles. Similarly, subsidiary JLR aims to bring 65 per cent of its vehicles on green technology by 2030.
Tata Motors and Jaguar Land will achieve leading position
Chandrasekaran said all three businesses of the company, Tata Motors and Jaguar Land Rover, are poised to grow and achieve leadership positions in their segments. He said that the company’s commercial vehicle business is focusing on growth along with profitability. The passenger car business is leading the electric vehicle segment to expand its portfolio.
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