Chandrasekaran also said the group is ”in a massive transformation” to become future-ready and will shortly announce a group level goal towards becoming carbon neutral
Pouncing vehemently on the electric vehicle ecosystem growth in the country, Indian conglomerate Tata group is now eyeing to enter the battery market.
As per Tata Sons Chairman N Chandrasekaran, Tata Group is preparing the blueprint to launch a ”battery company” both in India and abroad as part of its transition to be future ready.
Chandrasekaran also said the group is ”in a massive transformation” to become future ready and will shortly announce a group level goal towards becoming carbon neutral.
”We are transforming our core businesses to be future ready, a transition where we are tightly integrating or embedding digital, data, AI and sustainability at the core of the business…,” he said.
While the existing business are undergoing transformation, the group has also entered into new areas, Chandrasekaran said citing the example of the group’s Tata Neu super app to prepare itself for an omni-channel consumer facing ecosystem and the launch of a ”very large scale precision manufacturing electronics company which has global aspirations”.
He further said, ”We have launched a company for creating a 5G and beyond telecom gear for the global markets. We are preparing the blueprint to launch our battery company both in India and abroad.” Chandrasekaran, however, did not elaborate on the details of the battery company.
The over USD 100 billion conglomerate’s automotive arm Tata Motors is leading the electric passenger vehicles market in India in terms of sales through its models such as Nexon EV and Tigor EV. It has recently unveiled an electric concept AVINYA, based on which new electric models will come with an enhanced range of over 500 kms. The commercial vehicles division of Tata Motors has also recently launched the all-electric version of its popular mini truck, Ace.
Chandrasekaran also said the group’s power company, Tata Power, is shifting heavily towards not only utility-scale renewables but consumer renewables.