After registering a strong quarterly profit on the back of higher sales and improved profitability of its Jaguar and Land Rover unit, Tata Motors is now planning to expand its commercial vehicles business in India.
"The commercial vehicle business in India has all the ingredients for growth and offers a great opportunity," said Carl Peter Forster, managing director and CEO, Tata Motors. "We are already a dominant player and are now looking at commercial vehicle plant for small and light vehicles."
The company did not disclose the investments lined up for the expansion plans.
At present the company manufactures medium and heavy vehicles, light and small vehicles, buses and defence vehicles from its various facilities in the country.
Anticipating a strong surge in the domestic and the international demand for trucks, the company is looking to build a plant in the country to manufacture small trucks.
On the luxury brand Jaguar and Land Rover front, the company plans to come up with a modern-day Defender Land Rover model.
Tata Motors plans to assemble Land Rover vehicles in India from next year.
It is also in talks for assembly line operations in China.
In the passenger car segment the company is looking at a wider product portfolio. The company will increase the product portfolio for both the Tata Motors and the Fiat brand of cars. "Fiat has been a great addition to our brand and we are satisfied with the volumes and the idea is to improve the Fiat business and enhance the product range," said Forster.
Eyeing a huge opportunity globally in the trucks business, Tata Motors is exploring synergies with its joint venture partner, the Italian auto giant, Fiat, Forster said.