Tata Motors plans to invest Rs 43,000 crore on new products and technologies in FY 2024-25. In the current financial year, the auto major’s investment outlay was Rs 41,200 crore.
According to media reports, Tata Motors Group CFO PB Balaji said in an earnings conference that Jaguar Land Rover (JLR) received investments totaling 3.3 billion pounds (over Rs. 33,000 crore) in FY24, while Tata Motors itself invested more than Rs. 8,200 crore.
This brought the total investment for FY24 to approximately Rs 42,200 crore. Looking ahead to FY25, Balaji expressed expectations of increasing JLR’s investment to around 3.5 billion pounds, which is about Rs 35,000 crore.
He further said that the investment focuses on new products and technologies for both Jaguar Land Rover (JLR) and Tata Motors.
At the same time, Jaguar Land Rover has also seen impressive growth in India. The brand raised approximately 81% in sales, selling 4,436 units in the fiscal year 2023-24.
This surge is notable, marking its highest sales in five years since its introduction to India in 2009.
The main reason for this outstanding performance is the high demand for SUVs. Models like the Range Rover and Defender saw remarkable year-on-year increases of 160% and 120% respectively.
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Moreover, the newly launched 2024 model of the Discovery Sport showed a significant 50% growth, and the Range Rover Evoque saw a commendable 55% increase in annual sales.
Over the next decade, Tata Group will commit Rs. 1.5 lakh crore for Jaguar Land Rover’s shift to electric vehicles. They have also partnered with the Tamil Nadu government, committing Rs. 9,000 crore for a new manufacturing facility over five years.
Tata Motors’ significant investment of Rs 43,000 crore for FY25 highlights its commitment to innovation and market leadership.
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