New Delhi: The Tata Motors group has increased its FY25 investment budget to Rs 43,000 crore for new products and technology, with its British unit Jaguar Land Rover taking the largest part, according to reports.
In FY24, the Tata Motors group estimated a 3 billion pound investment for Jaguar Land Rover (about Rs 30,000 crore) and Rs 8,000 crore for Tata Motors, for approximately Rs 38,000 crore.
Tata Motors Group CFO PB Balaji said in an earnings conference that Investment by JLR ended at 3.3 billion pounds (more than Rs 33,000 crore), and Tata Motors did more than Rs 8,200 crore. Therefore, they ended up investing around Rs 41,200 crore in FY24.
Furthermore, in terms of FY25, he stated that JLR's investment will be "more like 3.5 billion pounds, broadly Rs 35,000 crore, because all the product plans we had are coming together (next year)."
Additionally, he added that there is a phasing issue they are dealing with, and these products have to be launched on time.
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