New Delhi: Tata Group, the Indian conglomerate, is planning to set up a battery company in India and abroad, according to a report by Reuters.
Tata Sons Chairman N Chandrasekaran has informed this as the Indian automaker deepens its push to build electric vehicles in the country.
At an industry event, Chandrasekaran said that the Tata group is making a transition towards sustainability across businesses which includes a clean mobility push at Tata Motors and its British luxury unit Jaguar Land Rover.
Auto companies globally are pursuing zero-emission strategies to meet stringent climate goals and making investments in batteries and other raw materials.
Tata Motors is now India's biggest electric carmaker.
According to the report, the company said that it has plans to launch 10 electric models by 2025, whereas Jaguar Land Rover’s luxury Jaguar brand will be entirely electric by 2025. The automaker have plans to launch electric models of its entire line-up by 2030.
Chandrasekaran said, “Pressure on making the climate transition is only going to increase ... deadlines will only get advanced going forward,” while adding that the Tata group will soon announce its goal towards becoming carbon neutral.
The "blueprint" of the battery company is part of a broader plan to be "future ready" by investing in renewable energy, hydrogen, storage solutions, and the circular economy, he added.
Meanwhile, stock of Tata Motors fell nearly 5 per cent ahead of the company’s Q4 earnings on Thursday. The large cap stock fell to an intraday low of Rs 369.55, dropping 4.73 per cent on the BSE. The share opened at Rs 383.95 against the previous close of Rs 387.90 on the BSE.