Tata to invest Rs 10,000 crore in its operations worldwide
Tata Motors, which had recently replaced Hyundai India as the second-largest car maker in the Indian market, has announced that it is planning to invest about 10,000 crore in its operations worldwide in the next 2 to 3 years. According to the company, the investment will be focused on product development, facility modernization and other capex purposes. The company plans to expand its product range as well as foot prints in both domestic and global markets across all segment of vehicles.
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Also, a part of this amount will be raised internally, while the rest of the amount will be generated by a planned raising of long-term funds through the issue of securities in both domestic and international markets.The investment will also cover company's operations overseas.
Tata Motors has emerged as one of the fastest growing auto maker in India as it posted a profit of Rs 2,571.06 crore, last year. Just a few months back, the company had stated that it has planned an investment of Rs 3,000 crore for its operations in domestic market and about Rs 5,000 crore for its British subsidiary Jaguar Land Rover (JLR).
Tata's total sales figures (including exports) for commercial and passenger vehicles in June 2010 stood at 67,730 units , registering a growth of 49% over 45,440 vehicles sold in June 2009. The company’s domestic sales of commercial and passenger vehicles for June 2010 were 62,602 nos.,showing a 45% growth over 43,284 nos. sold in June last year. Cumulative sales (including exports) for the company for the fiscal are 181,708 nos., resulting in a growth of 48% over 123,114 nos. sold last year.
