Canada markets closed
  • S&P/TSX

    19,028.86
    +167.50 (+0.89%)
     
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • DOW

    31,097.26
    +321.86 (+1.05%)
     
  • CAD/USD

    0.7777
    -0.0001 (-0.01%)
     
  • CRUDE OIL

    110.08
    +1.65 (+1.52%)
     
  • BTC-CAD

    26,014.84
    +1,331.38 (+5.39%)
     
  • CMC Crypto 200

    438.98
    +18.84 (+4.49%)
     
  • GOLD FUTURES

    1,811.40
    +9.90 (+0.55%)
     
  • RUSSELL 2000

    1,727.76
    +19.77 (+1.16%)
     
  • 10-Yr Bond

    2.8890
    0.0000 (0.00%)
     
  • NASDAQ futures

    11,667.50
    +56.25 (+0.48%)
     
  • VOLATILITY

    27.53
    -1.18 (-4.11%)
     
  • FTSE

    7,232.65
    +64.00 (+0.89%)
     
  • NIKKEI 225

    26,369.24
    +215.43 (+0.82%)
     
  • CAD/EUR

    0.7450
    -0.0008 (-0.11%)
     

India's Tata Group readying plan for battery company in India, abroad

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

By Aditi Shah

NEW DELHI, May 11 (Reuters) - India's tech-to-autos Tata Group is drawing up plans to launch a battery company in India and abroad, its chairman N Chandrasekaran said on Wednesday, as Tata deepens its push to build electric vehicles.

The 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, Chandrasekaran said at an industry event.

To meet stringent climate goals, automakers globally are pursuing zero-emission strategies by also investing in batteries and their raw material supply chain.

Tata Motors, India's biggest electric carmaker, has plans to launch 10 electric models by 2025, whereas Jaguar Land Rover's luxury Jaguar brand will be entirely electric by 2025 and the carmaker will launch e-models of its entire lineup by 2030.

"Pressure on making the climate transition is only going to increase ... deadlines will only get advanced going forward," he said, adding that the Tata group will soon announce its goal towards becoming carbon neutral.

The battery "blueprint" is part of a broader plan to be "future ready" by investing in renewable energy, hydrogen, storage solutions and the circular economy, he said. (Reporting by Aditi Shah; Editing by Emelia Sithole-Matarise)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting