“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. So, the total we ended was at about Rs 41,200 crore investment in FY24,” Tata Motors Group CFO PB Balaji said in an earnings conference.
Coming to FY25, he said, for JLR, the 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)”.
He further said, “There is a phasing issue we are dealing (with), and these products have to (be) launched on time”.
For Tata Motors, Balaji said, “We will repeat the Rs 8,000-odd crore range. So, JLR is about 6 per cent increase and Tata Motors is flat. So, that’s how the investment is (for FY25)”.
He said the investment is “all about products and technologies” for JLR and Tata Motors. Elaborating on the new product launch programme, Jaguar Land Rover CFO Richard Molyneux said, “FY2026 is the year when our new product starts to hit. We will have Range Rover BEV in the market by then and other products as well. At that point in time, we start to replace some of the vehicles on which we make less money with brand-new vehicles, which normally helps EBIT levels”. On the Range Rover BEV, he said, “We’re doing it differently. This is not a BEV (battery electric vehicle) which is going to get sold as a Range Rover. This is the Range Rover with a BEV powertrain”.
Molyneux further said, “BEV happens to give the exact combination of power, quietness and serenity that is perfect for the Range Rover brand. So, this will be the top-end of Range Rover”.
JLR will also keep developing its offerings on Range Rover and Range Rover Sport, he said, adding that the Defender OCTA will get launched later this year.