New Delhi, 22 July
Homegrown auto major Tata Motors is working on a slew of new products, including alternate fuels, hybrids and electric vehicles, to be launched over next seven years, according to chairman Cyrus Mistry.
Addressing shareholders in the annual report for fiscal 2012-13, Mr Mistry also said the company’s British arm Jaguar Land Rover plans to launch eight new or refreshed products this year, besides exploring further opportunities in other growing markets, including Brazil, India and Saudi Arabia.
“The company is working on a slew of new products, with a plan running up to 2020; this includes appropriate focus on alternate fuels, hybrids and electric vehicles,” he said.
Tata Motors has recently announced HORIZONEXT strategy, based on intense product focus, world-class quality and manufacturing, enriched customer purchase experience and a consistent, robust after-sales service, to drive growth.
“With changes in the organisation structure, the company is determined to improve its customer understanding to better meet market needs, and deliver products swiftly through optimised operational processes,” Mr Mistry said.
Looking ahead, he admitted that there are challenges, but said that “the organisation is resolved to foster a culture of customer centricity and innovation, so that the company’s products and services consistently exceed customer expectations”.
On JLR, Mr Mistry said: "Technical innovation and engineering excellence have stood JLR in good stead for sustained, profitable growth and the company plans to launch eight new or refreshed products this year.”
Stressing that it is a healthy and vibrant company, he said JLR is “strongly positioned across key global markets for future growth”.