Saddled with losses in its domestic commercial and passenger vehicle business, homegrown auto major Tata Motors on Monday reiterated its turnaround plan focused on cost reduction, new products, and bringing inefficiencies in the supply chain.
The company said it would invest Rs 4,000 crore this year. Of that Rs, 2,500 crores will go to the passenger vehicle business.
Calling the commercial vehicle (CV) its ‘backbone’, the company said it would invest Rs 1,500 crore in the business over the next few years.
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