Tata Group targets US$100 billion revenue from auto units by 2031

[MUMBAI] Tata Group is targeting about US$100 billion in automotive revenue by the year ended March 2031, chairman Natarajan Chandrasekaran said, outlining growth plans across its four automotive businesses following the demerger of Tata Motors’ passenger and commercial vehicle operations. 

Jaguar Land Rover is expected to contribute US$45 billion to US$50 billion of revenue, while the commercial vehicle business is targeted at about US$40 billion, with the balance coming from cars and auto components business, Chandrasekaran said to shareholders at Tata Motors Passenger Vehicles’ annual general meeting on Wednesday.

Tata Motors’ domestic business plans to invest about 4 trillion rupees (US$41.9 billion), while its UK-based luxury car making unit will spend around £20 billion (US$26.8 billion) over the next five years, he added. The investments will fund new products, electrification, manufacturing capacity and technology.

For the passenger vehicle business, the company reiterated it aims to expand its India market share from 14.2 per cent to 20 per cent by March 2031, aided by the launch of six new models and more than 20 product refreshes. Chandrasekaran said the recently revived Sierra has the potential to become one of the company’s best-selling models. 

Tata Motors, the local market leader in electric vehicles with a nearly 45 per cent market share, intends to maintain its dominance by expanding its portfolio across multiple price points.

Tata’s closely held battery maker Agratas will begin production in calendar 2027, supplying both JLR and Tata Motors, Chandrasekaran said, as the group localises battery manufacturing. BLOOMBERG