Tata Motors to invest $1 billion in new plant for Jaguar Land Rover luxury cars in Tamil Nadu: Report

Although Tata Motors had initially announced the concern successful March, specifics regarding the models to beryllium manufactured remained undisclosed. The caller revelation sheds airy connected the company's strategical determination to further integrate JLR into its operations, leveraging its acquisition of the prestigious marque successful 2008.

To recall, the Indian automaker has besides reported a important surge successful planetary wholesales for the 4th fourth ending March 31, 2024. Totaling 377,432 units, the fig marks an awesome 8 percent summation compared to the corresponding play past year. Particularly noteworthy is the robust show of Tata Motors' rider vehicles segment, including electrical vehicles, which witnessed a notable 15 percent surge, reaching 155,651 units during the aforesaid period.

Simultaneously, Jaguar Land Rover has showcased a singular maturation trajectory successful the Indian market. The luxury marque reported an outstanding 81 percent summation successful retail income for the fiscal twelvemonth 2023-24, selling a full of 4,436 units. This surge is peculiarly significant, marking the brand's highest income figures successful the past 5 years since its instauration to the Indian marketplace successful 2009.

Key drivers of this exceptional show see the soaring request for SUVs, with models specified arsenic the Range Rover and Defender witnessing awesome year-on-year increases of 160 percent and 120 percent, respectively. Additionally, the recently launched 2024 exemplary of the Discovery Sport recorded a notable 50 percent growth, portion the Range Rover Evoque saw a commendable 55 percent summation successful income connected an yearly basis.

(With inputs from Reuters)

Unlock a satellite of Benefits! From insightful newsletters to real-time banal tracking, breaking quality and a personalized newsfeed – it's each here, conscionable a click away! Login Now!

Published: 18 Apr 2024, 03:24 PM IST