Tata Motors PV plans capex of up to Rs 40k crore in 5 yrs

Tata Motors Passenger Vehicles Ltd has lined up capex of up to Rs 40,000 crore in the next five years as it seeks to garner 20 per cent share in the domestic market by nearly doubling its volumes to over 12 lakh units annually by FY31, according to its investor presentation.

The company plans to launch six new models by FY31 while it aims to have 13 lakh units annual production capacity within two to three years, its Managing Director & CEO, Shailesh Chandra, said in the presentation.

The domestic passenger vehicle industry is expected to grow to 64 lakh units annually and electric vehicles (EV) volumes are projected to touch 10.11 lakh units annually by FY31, reaching 15-20 per cent EV penetration, he said.

The overall median industry selling price will increase to around Rs 15 lakh from Rs 11-12 lakh in FY26, Chandra noted.

Tata Motors Passenger Vehicles (TMPV) has also set an ambition of 30 per cent EV penetration for itself by FY31, with a portfolio of 10 EV models.

“Going forward, our aspirations remain strong. We are building towards sustained growth momentum and 20 per cent market share over the next phase of growth,” Chandra said.