Tata Motors-owned JLR to invest £15 billion into electric car plants

Tata Motors shares in focus today during afternoon's session after its UK-based subsidiary JLR announced investment plans in electric vehicle segment.

Jaguar Land Rover (JLR) on Wednesday said it will invest 15 billion pounds (about Rs 153 crore) over the next five years to enhance its industrial footprint, introduce new models and bolster technology in its range.

In a regulatory filing, the company said, "The plan is to accelerate its transition to become the world’s leading modern luxury car manufacturer revealing its Halewood plant, in the UK, will become an all-electric production facility and its next generation medium-size SUV architecture, electrified modular architecture (EMA), will now be pure-electric.

JLR confirmed that it will start to invite applications for client orders for the modern luxury all-electric Range Rover from later this year.

On Thursday, at around 12:51 PM, shares of Tata Motors were trading higher by 1.14% at Rs474.30 per share on the BSE.

Source: Media reports