JOIN USLaunching eight upgraded versions across five passenger car platforms, country's largest auto maker Tata Motors on Wednesday said it will invest Rs 1,600 crore on its car division this fiscal.
"We will invest Rs 1,600 crore in product development for the passenger vehicles division while the same for commercial vehicles will be Rs 1,400 crore," Tata Motors Managing Director Karl Slym told reporters at the launch of eight variants at its plant here.
The company had invested Rs 3,000 crore on both its divisions last fiscal as well, he said. Tata Motors launched eight variants under the 'HorizoNext' strategy, which is aimed at recouping the lost market share.
It launched eight variants across five product offerings -- the Indica hatchback, Indigo sedan, small car Nano, sports utility vehicle Safari and utility vehicle Sumo.