Tata Motors to invest $1.5 billion in manufacturing
Tata, India’s biggest carmaker, will be investing heavily into its manufacturing facilities now that it owns both Jaguar and Land Rover. At a press conference on Monday, Tata Managing Director Ravi Kant announced the company will invest $1.5 billion shortly on expanding build capacities, and plans to make sustained investments over the next four or five years.
This year promises to be an eventful one for Tata, as it will also begin selling the $2,500 Nano in its home market, according to Britain’s Autocar.
The investments are believed to be the result of Tata’s efforts to borrow money from nine banks, as reported earlier this month.
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