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Tata Motors To Invest Rs.1K Crore In Karnataka
Tata Motors' Dharwad plant woll have an annual production capacity of 90,000 units. The plant is still under development and is expected to reach full capacity by the end of next year. The Tata Ace Zip and Magic Irs have a huge market in the rural markets and have been very successful across the country.
The Dharwad plant will cater to the market requirements of south and central India. Ravi Pisharody, the president of Tata Motors Commercial Vehicle Business Unit has said Tata Motors enjoys more than 80 per cent market share in the light commercial vehicle segment thanks to these two models. Demand has been increasing steadily and we are creating this manufacturing facility to meet it.
The Tata Ace and Magic Iris are commercial vehicles that come under the one tonne capacity. Demand for these two vehicle arises from small businesses. This segment is expected to see a growth of 15 to 20 per cent in the next few years and Tata Motors has identified the potential for its vehicles here. The Tata Ace is selling at about 3,000 units per month while the Iris Magic posts 1,000 units sales per month.
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