Tata Motors is ready to invest Rs. 8000 crores in next 3-4 years to polish and facelift its product portfolio. The company is taking advantage of easier availability of credit. It had earlier decided to cut down its capex plans as announced in May 2009. However, the financial situation is improving and the interest rates are expected to come to ideal levels.
The company intends to revamp its future products and launch new products like Indigo sedan, Indicruz crossover model and gen-next versions of Sumo and Safari. The new capex program will also cover the commercial vehicle division along with its passenger car division.
“At any point of time, Tata Motors works on several innovations on its product portfolio, in the light of long-term needs of its customers both on a domestic and global scale. We cannot share any specific information on our future plans,” said Tata Motors spokesman. He also stated that this expenditure does not involve any investments for its international passenger car portfolio that includes Jaguar and Land Rover.