Tata Motors has set a target of increasing its business 10 times by FY31. Chairman N Chandrasekaran said that the company wants to achieve more than 12 lakh annual sales and 20% market share through new product launches, EV and JLR.
Tata Motors Passenger Vehicles Limited (TMPVL) is aiming for rapid expansion in the remaining years of this decade. The company aims to increase its business tenfold by FY31. Chairman N Chandrasekaran said this. He outlined an ambitious roadmap focused on new product launches, electric vehicles, digital technology and close collaboration with Jaguar Land Rover (JLR).
Addressing shareholders at the company’s 81st annual general meeting, Chandrasekaran said the recently demerged passenger vehicle business has now entered its next phase, with clear long-term growth goals.
Target of 10 times growth by FY31
He said, “Looking at this transformational decade from FY20 to FY31: We will grow the business 10x. Our ambition is to reach sales of over Rs 12 lakh annually, achieve 20% market share and double-digit EBITDA margins, strengthen our portfolio with the launch of 6 new nameplates and 20+ product refreshes, and drive the contribution of EVs to our sales to over 30%.”
The company expects growth to be supported by a strong product pipeline at Tata Motors Passenger Vehicles and JLR, while increased investment in technology, artificial intelligence and manufacturing capabilities.
Partnership with JLR will be strengthened
“We enter FY27 with confidence,” Chandrasekaran said, adding that the company has “a strong pipeline of new products and powertrains across Tata Motors Passenger Vehicles and JLR”, as well as a continued focus on safety, quality and customer experience. He also said that the company will deepen the collaboration between TMPVL and JLR by leveraging each other’s strengths in manufacturing, technology and talent. He said the commencement of operations at the joint TMPV-JLR facility at Panpakkam, Tamil Nadu is an important milestone in that strategy.
Full emphasis on electric mobility also
On electric mobility, Chandrasekaran said that Tata Motors is committed to expanding EV adoption by adopting a multi-powertrain approach. The company has already crossed cumulative sales of 300,000 electric vehicles and plans to have EV contribution to more than 30 per cent of total sales by FY31.
Sustainability and the goal of net zero
Beyond business growth, the Chairman reiterated the company’s sustainability commitment under the Tata Group’s Project Aalingana. “Guided by the Tata Group’s Project Aalingana, the company is committed to achieving net zero by 2040, with electrification at the core of its strategy,” he said.
Chandrasekaran said the company’s long-term objective is to build a globally competitive mobility brand, as well as create sustainable value for shareholders through innovation, premium creation and continued investment in future technologies. (ANI)
(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)