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Tata Motors plans to continue investing in the range of Rs 2,000 crore in its commercial vehicle business per annum going ahead in order to drive in new models based on various kinds of powertrains, according to company's Executive Director Girish Wagh.
The company, which on Monday strengthened its pickup line with the launches of Yodha 2.0, Intra V20 bi-fuel and Intra V50 models, is also looking to transition to electric mobility through vehicles powered by CNG and other alternative fuel options.
"At the company's commercial vehicle business level, we have been investing around Rs 2,000 crore per annum which includes our investment in internal combustion engines, alternate fuel as well as electric vehicles. We will continue to invest at the same rate to ensure that we keep coming with new vehicles," Wagh told reporters at the launch event.
Tata Motors, a USD 37 billion organisation, is the country's leading player in the commercial vehicle segment.
On a query regarding the company's journey towards electric products in the commercial vehicles space, he noted that the transition towards zero emission vehicles is an irreversible trend and in India, it is going to happen through alternative fuels.
"We are increasing our range of alternative fuel vehicles..we showcased the one tonne CNG-powered vehicle today..few months ago, we had launched the CNG-powered medium and heavy commercial vehicle with a range of 1,000 kilometres.. so we are geared up to address this transition towards electrification through alternate fuel," Wagh stated.
He noted that the company expects CNG models to account for around 40 per cent in intermediate and light commercial vehicles and around 20 per cent in small commercial vehicles going ahead.
Wagh said that the company has started the production of Tata Ace EV, and the deliveries were expected to begin next month.
On Monday, the company launched the new pickup trucks to cater to the supply of agricultural produce, poultry and dairy sectors as well as the expanding delivery requirements of FMCG, e-commerce and logistics sectors.
Wagh said the new range would help the company enhance its market share in the small commercial vehicle segment.
Tata Motors currently has a market share trading around 40 per cent in the small commercial vehicle segment.
"Every aspect of these pickups has been meticulously engineered to efficiently service a wide variety of uses across urban, semi-urban and rural areas," Wagh stated.
The new range comes with the highest payload capacity, largest deck length, highest power to weight ratio and longest range to traverse maximum distance, he added.
"The introduction of these new-age pickups reiterates our commitment to always empower and equip the customers with vehicles to deliver more progress and success," Wagh said.
Around 1,000 units of the new range were expected to be delivered on Monday, he added.
Yodha 2.0 is priced at Rs 9.99 lakh, Yodha EX at Rs 10.74 lakh, Intra V50 at Rs 8.57 lakh (Ex-showroom).
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Mon, September 26 2022. 17:37 IST