Tata Motors to Invest Over $1 Billion in CV Business in Next 4-5 Years
Tata Motors, the nation’s largest truck maker, has lined up an investment of more than $1 billion (over Rs 7,500 crore) in the coming 4-5 years to recraft its road map for the commercial vehicle business, with electric vehicles at its core, people in the know said.
The company that has taken a lead in the passenger electric vehicle (EV) space, is transitioning to new-age platforms designed to deliver futuristic EVs in the commercial vehicle (CV) space as well. These vehicle architectures will also be able to accommodate CNG, LNG and diesel powertrains, in a significant shift from the past when fossil-fuelled vehicles were re-engineered to make EVs.
Tata Motors NSE -0.24 % wants to lead and drive electrification in the marketplace just as it did with the conventional powertrains in the past, Girish Wagh, executive director – commercial vehicle business, at Tata Motors, told ET. It is working on a range of options catering to the short-range battery-operated vehicles for the last mile with the small CV offerings and gas-based fuel-cell electric vehicles to cater to the more extended range. Still, before that, the shift towards CNG is going to be quick.
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