Tata Motors on Monday said it will invest Rs 4,000 crore in the current fiscal to bring new passenger and commercial vehicles to the market as part of its turnaround strategy. Of this, Rs 1,500 crore has been earmarked for the commercial vehicle business and Rs 2,500 crore for the passenger vehicle platform.
Tata Motors managing director Guenter Butschek said the company has embarked on a turnaround programme with the next 6-9 months being critical against an earlier planned business transition, to be achieved in the next 2-3 years.
The domestic commercial vehicles business is the backbone of the company and the focus of the turnaround is on getting higher market share of 5 per cent in this segment and launching new products faster in the market, he told reporters.
“For the CV segment, we have earmarked Rs 1,500 crore for FY18,” Butschek said, adding that 10 new products have been lined up. Of these, six will be in medium and heavy CV segments, while four products are in the intermediate CV category, he said.