On the sidelines of the ongoing Geneva Motor Show, Tata Motor’s MD and CEO, Guenter Butschek has made an interesting revelation. As told to PTI, the company plans to revamp its entire product portfolio by the year 2023-24. The automaker will launch a series of new products which will be based on its two new modern architecture platforms. These are namely the OMEGA (Optimal Modular Efficient Global Advanced) and the ALFA (Agile Light Advanced Architecture).
The OMEGA architecture will underpin vehicles which measure 4.3 meters or above. The ALFA architecture will underpin vehicles measuring between 3.7 meters and 4.3 meters. The use of a limited number of platforms will help Tata Motors achieve economies of scale while at the same time maintaining a larger play in the market. This will also help Tata’s product to have a certain common ground.
Tata is aiming to represent a considerable chunk of the 50 percent of the passenger vehicle segment in India. For this, it plans to launch multiple vehicles by developing new sub-segments. This will offer customers, within this segment, to choose between different body style and on the basis of features.
Apart from exploring the budget compact segments, Tata Motors is going to make their presence felt in the premium segment as well. The company believes soon, buyer’s aspirations will shift from sub-compact to compact and then eventually to big sized vehicles.
This product offensive is going to help Tata have a wider product portfolio. This will translate itself into higher volumes and hence resulting in a larger market share. With this aim in sight, Tata believes that it will capture the number three position in the PV segment by the end of next fiscal.
With this product offensive and innovations in design and electric mobility, Tata Motors is likely to surge ahead.
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