Tata Motors plans to invest Rs 15,000 cr in EV market in 5 years

Tata Motors, a leading global automaker, plans to invest Rs 15,000 crore in the electric vehicle (EV) segment over the next five years.

According to Shailesh Chandra, president of Tata Motors for passenger cars, the company, which is a leader in the newly emerging EV segment with offerings such as Nexon, plans to develop about 10 more new offerings in the segment.

The company had raised $1 billion in funding from large private equity firm TPG in its EV division, valuing the company at $9.1 billion.

Chandra spoke at an event where local groups delivered a batch of 101 electric vehicles to city residents as part of the Aurangabad Mission for Green Mobility (AMGM).