Tata group firms in talks with banks to raise funds for Rs 60K capex plan

Focus is on EVs, renewable energy for new investments

The Tata group companies are in talks with leading banks and equity investors to raise funds for their capital expenditure (capex) plan of worth Rs 60,000 crore in the current financial year.

Led by Tata Motors, group companies, including Tata Power and Tata Steel, are planning to invest in electric vehicles (EVs) and renewable energy.

Tata Motors, according to company officials, is spending Rs 32,000 crore in capex, mainly to launch a series of EVs in the coming years. While its UK-based subsidiary, Jaguar Land Rover, will spend Rs 26,000 crore, the rest will be invested in the parent firm