India's Tata Motors to invest up to $4 billion over 5 years for EVs, new cars
(Reuters) -India's Tata Motors plans to invest up to 350 billion rupees ($4.1 billion) over the next five years, aiming to cement its position as the country's top electric vehicle maker amid rising competition and a push to adopt clean cars.
The maker of the Nexon and Punch sport utility vehicles will nearly double its portfolio from eight models to 15, launch more EVs and compressed natural gas cars as well as enhance the vehicles' technology features, according to its investor day presentation released on Monday.
India, the world's third-largest car market, is planning stricter emission norms starting 2027 and wants EVs to form 30% of all car sales by 2030.
Tata Motors did not share its investment plan for the current year to March 2026, but said last month the domestic businesses, including commercial vehicles, would have a capital expenditure of about 80 billion rupees.
Intense competition in the combustion engine market has allowed rival Mahindra & Mahindra to overtake Tata. China's MG Motor has also challenged Tata's EV dominance with the "Windsor" model, outselling its products since late last year.
Yet, Tata Motors maintained its target of 16% market share by March 2027, aiming to reach 18%-20% by March 2030.
($1 = 85.6310 Indian rupees)
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