Tata Motors Passenger Vehicles targets ₹6L/cr revenue by FY31
Business
Tata Motors Passenger Vehicles (TMPV) is going all-in for growth, aiming to cross ₹6 lakh crore in revenue by FY31.
It is planning to boost yearly car production from nine lakh to 13 lakh units within the next few years, and it is betting big on electric and CNG vehicles.
By 2031, TMPV wants over 30% of its cars to be electric and will expand its EV lineup from six models today to 10.
TMPV invests in factories and networks
To reach these goals, TMPV is investing in new factories and upgrading current ones. It is also set on doubling its sales network and expanding its service network across India.
On top of that, TMPV aims to cut costs in making petrol/diesel cars by up to 6%, while getting more efficient at building EVs, so expect a lot more options and easier access soon.