[Aditya]

Tata Motors has disclosed that it is planning to expand its commercial vehicle range as well. It will introduce 100 new commercial vehicles (including new products and variants) in domestic and international markets over the next three years.

Tata Motors has plans to raise Rs. 7,500 crore through a rights issue of ordinary shares. For this, it is seeking the approval of the shareholders through a postal ballot. A part of the amount raised will be used to fund the development of new products.

As a part of the plan, the company is looking to expand its range with the launch of the Ultra range of trucks and by broadening the Prima portfolio.

Tata Motors is considering an expansion of its commercial and passenger vehicle operations in its existing export markets such as Thailand, Indonesia and South Korea. It also plans to explore new markets such as Australia, Philippines and Vietnam. The company also plans to introduce passenger vehicles on a new modular platform from 2016-17.

Source: Live Mint