Tata Group targets doubling automotive revenue to $100 billion in five years

The Tata Group has set an ambitious goal of doubling its consolidated automotive revenue to $100 billion in the next five years, backed by aggressive product expansion, sustained investments, and growth across its domestic passenger vehicle, commercial vehicle, and Jaguar Land Rover (JLR) businesses, N Chandrasekaran, chairman, said Wednesday.

The target covers Tata Motors Passenger Vehicles, Tata Motors Commercial Vehicles, British luxury car unit JLR, and auto parts maker Tata AutoComp Systems (Taco), he said.

JLR is expected to contribute $45-50 billion in revenue by FY31, while the commercial vehicle business would catapult to around $40 billion, he said, responding to shareholder queries at Tata Motors’ annual general meeting.


The combined automotive businesses are expected to deliver profits of more than $5 billion by FY31, according to Chandrasekaran.

Tata Motors generated consolidated automotive revenues of $50 billion in FY26. This included $38 billion of JLR and Tata Motors Passenger Vehicles, while Tata Motors Ltd, which solely focuses on the commercial vehicle business, generated $9.5 billion. Unlisted Tata AutoComp, owned 26% by Tata Motors, posted $2.5 billion revenue last fiscal year.

In passenger vehicles, Tata Motors is aiming to raise its market share to 20% by FY31 from about 14.2% currently. The growth will be supported by six new models and more than 20 product refreshes over the next five years.

"Our ambition is to scale to over 1.2 million annual sales, achieve 20% market share and double-digit EBITDA margin, strengthen our portfolio with the launch of six new nameplates and 20-plus product refreshes, and make EVs contribute more than 30% of our sales volumes," Chandrasekaran said.

The company also intends to retain its leadership in electric vehicles by maintaining a 40-45% market share, backed by a wider portfolio spanning multiple price points. Management said the upcoming Sierra electric SUV has the potential to become one of Tata Motors' best-selling models.

Tata Motors plans to invest about ₹40,000 crore in its domestic operations over the next five years, while JLR has earmarked around £20 billion during the period. Battery manufacturing arm Agratas is expected to start production in calendar 2027, supplying its first cells to both Tata Motors and JLR as the group accelerates battery localisation.

The company said passenger vehicle operations are expected to break even at annual volumes of around 300,000 units through cost optimisation, material savings and pricing improvements.

On JLR, the management maintained a neutral outlook but said the business is expected to return to double-digit Ebitda margins this year, with a medium-term target of 15%. The electric Range Rover and electric Jaguar are slated for launch in the second half of the year.

The company identified execution, supply chain disruptions and cybersecurity as key risks, while adding that the 2025 cyber incident at JLR has been addressed.

Tata Motors also plans to grow exports to South Africa and deepen its presence in Commonwealth markets such as Malaysia and Australia, alongside the UK and Europe.