India’s Tata Group is aiming for close to $100bn in automotive revenue by the year ending March 2031 following the demerger of Tata Motors’ passenger and commercial vehicle businesses.
Jaguar Land Rover (JLR) is expected to contribute $45bn to $50bn of that total, while the commercial vehicle business is targeted at roughly $40bn, chairman Natarajan Chandrasekaran said at the annual general meeting.
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The remaining revenue is set to come from the cars and auto components business.
JLR announced last month that North America, and the US in particular, would become a priority market under its medium-term plans for double-digit revenue growth, alongside a broader range of propulsion options across its main model lines.
The US is set to become a “key” market alongside the UK, Europe and China, with the company also planning market-specific offerings and steps to strengthen supply chain resilience.
Tata Motors’ domestic operations are planning investment of around Rs4tn ($41.94bn), while JLR is set to spend about £20bn ($26.85bn) over the next five years.
That spending is allocated to new products, electrification, manufacturing capacity and technology.
For the passenger vehicle business, the company repeated its target of increasing its India market share from 14.2% to 20% by March 2031.
The plan is backed by six new model launches and more than 20 product refreshes.
Chandrasekaran said the recently relaunched Sierra could become one of the company’s top-selling models.
Tata Motors passenger vehicle, which currently holds close to 45% of India’s electric vehicle market, is seeking to retain that position by expanding its range across price segments.
Separately, the group’s battery unit, Agratas, is scheduled to begin production in calendar year 2027, supplying both JLR and Tata Motors as part of the group’s strategy to localise battery manufacturing.
In April, the UK government confirmed a £380m grant for Agratas to support the construction of a gigafactory in Somerset, south-west England, a facility expected to rank among Europe’s largest battery manufacturing sites, which will supply JLR vehicles.
