Latest news with #AvinyaEV
Time of India
7 hours ago
- Automotive
- Time of India
Tata Motors to invest up to Rs 35,000 crore in passenger vehicle business in 5 years
Mumbai: Tata Motors has earmarked an investment of ₹33,000-35,000 crore in its passenger vehicle (PV) business, including the electric vehicle arm, over the next five years, the company said in an investor presentation on Monday. The investment will go towards expanding the Tata Group company's products, integrating next-generation technologies and improving profitability. The capex plan includes ₹16,000-18,000 crore earmarked specifically for the EV business between FY25 and FY30. The maker of the Nexon and Safari SUVs plans to launch 30 models by the end of the decade. This will include seven all-new nameplates and 23 product refreshes, expanding its portfolio from the current eight models to over 15 across multiple powertrains. These products will include fossil-fuel driven vehicles, electrical vehicles and future-ready platforms, including one under the Sierra brand and two under its upcoming Avinya EV range, the company said in the presentation. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo With the investment, Tata Motors aims to increase its passenger vehicle market share to 16% by FY27 and expand it further to 18-20% by FY30 from 13.2% in FY25. The company envisages EVs to account for a fifth of its PV volumes by FY27 and 30% by FY30. Tata's PV business, which reported revenue of ₹48,400 crore in FY25, will allocate 6-8% of its annual turnover towards capital expenditure over the investment period. The company expects to improve its PV EBITDA margin to more than 10% by FY30 from from 6.9% in FY24, driven by a stronger product mix, scale benefits and material cost reduction. The EV division turned operationally profitable in FY25, a year ahead of its FY26 target, benefiting from high localisation, aggressive cost control and incentives under the government's production-linked incentive (PLI) scheme. The company has accrued ₹250 crore in PLI benefits for FY25, up from ₹102 crore in FY24. Live Events Tata Motors is in the process of demerging its PV and commercial vehicle businesses into two listed entities. The restructured PV unit will house both Tata PV and Jaguar Land Rover businesses and operate under the name Tata Motors Passenger Vehicles. The demerger is expected to be completed by the end of 2025.
Yahoo
12-03-2025
- Automotive
- Yahoo
Exclusive-Jaguar Land Rover shelves plan to build EVs at Tata's India plant, sources say
By Aditi Shah NEW DELHI (Reuters) - Jaguar Land Rover has shelved plans to build electric vehicles at parent company Tata Motor's upcoming $1 billion factory in southern India, four people with knowledge of the matter said. The British luxury car unit was unable to find the right price-quality balance for locally sourced EV parts, three of them said, adding that the decision also reflects slowing demand for electric cars. "For India, all the work (on JLR electric vehicles) has stopped. Everything has been suspended since about two months," said a supplier source. Global car brands are revamping their electrification plans amid stiff competition from Chinese players, a shift in demand in favour of hybrids and as governments ease timelines to meet emission rules and EV sales targets. JLR's decision is also expected to delay plans for Tata Passenger Electric Mobility, Tata's local electric car unit, to launch the first of its premium Avinya models, the sources said. The cars are to be built on the same platform as JLR's electric vehicles and some components were to have been jointly sourced. Tata began construction of the new factory, which will also assemble vehicles other than EVs, in September. The plant is slated to produce over 250,000 cars a year when it reaches full capacity in about 5-7 years. The shelved plans called for JLR to manufacture more than 70,000 electric cars there and Tata's EV unit to build 25,000, the sources said. The sources were not authorised to speak to media and declined to be identified. Tata said in a statement to Reuters that the production timelines and choice of models to be built at the new factory in the state of Tamil Nadu will be aligned with Tata and JLR's broader strategy and market requirements. Tata, the biggest seller in India's nascent EV market, faces growing pressure from rivals like JSW MG Motor and Mahindra and Mahindra which have launched new, feature-rich models with longer driving ranges. Tesla is also finalising plans to launch EVs in India, which is the world's third-largest car market with 4 million vehicles sold annually. EV sales currently account for about 2% of total car sales. ECONOMICS NOT WORKING OUT In November, JLR hosted a meeting with local suppliers in Mumbai where it shared details of its plans and talked about locally sourcing components. Some suppliers were asked to provide initial information on the pricing of parts but those talks have now been suspended, according to the sources. JLR has most of its production in Britain, Europe and China. But it assembles some of its cars like the Range Rover SUVs at Tata's plant in Pune in the western state of Maharashtra. Tata's EV unit had planned to firm up orders with some suppliers by the end of January but is now making changes to its designs as the economics of its plan are not working without JLR, two of the sources said. Tata in January pushed back the launch of its Avinya EV to 2026-2027 from an earlier plan for this year. It was not immediately clear if the current situation will cause further delays. "As part of our rigorous product development process, we continuously evaluate key factors such as design, supply chain readiness, and unit economics to ensure a competitive and high-quality offering," Tata said in its statement. Sign in to access your portfolio
