Tata Chemicals has no EV plant plan, lines up Rs 5,000-crore capex

Tata Chemicals' consolidated turnover for financial year 2021-22 (FY22) grew 24 per cent to Rs 12,622 crore over the previous year

Tata Chemicals will not set up a battery plant for electric vehicles (EVs), Tata group Chairman N Chandrasekaran said at the company’s eighty-third annual general meeting held virtually on Wednesday.

Instead, the emphasis would be on expanding its current businesses for which the company, the world’s third-largest soda-ash maker, would invest Rs 5,000 crore in capital expenditure (capex) in the next few years, said Chandrasekaran, who is also the chairman of Tata Chemicals. The 59-year-old executive was responding to shareholders.

Tata Chemicals’ consolidated turnover for financial year 2021-22 (FY22) grew 24 per cent to Rs 12,622 crore over the previous