Tata Motors to invest Rs 9,000 crore in next three years

One of the largest car makers in India, Tata Motors has stated that it will invest as much as Rs 3,000 crores annually over the next three years. By investing this amount in its operation in the Indian market, the company is planning to pursue a multi-pronged growth strategy. The company has become one of the world's most diversified car maker by having both the high-end luxury as well as the cheapest cars of the world in its portfolio. According to a statement given by company's chairman Ratan Tata at the 65th annual general meeting, the company will invest about Rs 3,000 crore over the next three years towards building new products, new projects and on face-lifts.   

The prospective investment would not only be used in the development of the new variant of its cheapest car Tata Nano in the Indian market but also be injected to boost the sales of its luxury cars under Jaguar and Land Rover brand. 

Meanwhile, another Tata Nano model caught fire in the National Capital last week. Before this, two such incidents took place in the last few months when a brand new Tata Nano suddenly start fuming and burst into the flames, thereafter. According to Mr Tata, the company has about 50,000 vehicles in the market and 4 or 5 fires do not indicate that there is a problem with the Nano. It is more of a situational subject.    

The company is planning to launch three new versions of Tata Nano in the Indian market including a European and US version with enhanced features, a 3-cylinder version, a diesel version. The company is also planning to sell this car in the overseas market like South and South East Asia, Africa and Latin America.