Tata Motors plans to launch 10 new cars segments in next 5 years, as per a senior company official.
Moreover, these upcoming products, to be developed on two fresh platforms – Omega and Alpha, will assist the company to have the presence of over 90 percent of the Indian automobile market.
Tata Motors President of Passenger Vehicles Business Unit Mayank Pareek told PTI “In the next five years, the Indian automotive market will continue to evolve with many segments and sub-segments and sub-segments emerging. Our plan is to be present in existing segments and create new ones”.
When asked how many new products are planned, he said, “On the two new modular platforms that we have, there could be around 10 to 12 nameplates in the next five years”.
Pareek added, “These new products, which will include variants, could be in existing segments or new ones which we see emerging. These will help us have a presence in over 90 percent of the market”.
As part of its smooth process for inversion strategy, Tata Motors has already chosen to reduce the number of platforms into two for developing the new PVs.
The company will roll out with the launch of new products with SUV Harrier in the fourth quarter of the current fiscal.
As per the existing PV product portfolio, Tata Motors occupies around 70 percent of the market.
Looking forward, Pareek asserts that the company plans to develop compact segment vehicle of up to 4.3 meters in length on its Alpha platform, whereas bigger product, including SUVs, will be based on the Omega platform, which is derived from Land Rover for India.
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