Tata Motors has shared an aggressive plan to expand its presence in the Electric Vehicles space. According to the plan, the company’s Jaguar Land Rover (JLR) will invest a sum of 15 billion pounds in the EV business in the next five years.
JLR is planning to introduce three electric vehicles over the next two years, including the electric range rover later this year, and a mid-sized all-electric SUV in the Range Rover series in 2025.
Tata Motors is confident of improving JLR’s balance sheet and earnings going forward. JLR has guided for double-digit EBIT margin by financial year 2026, which is in-line with the earlier guidance.
The company plans on achieving the same through aggressive cost cuts and a better product mix.
