Tata Motors announced that it has received an order for 1,300 commercial vehicles from VRL Logistics Ltd, a provider of cargo trucks, to increase the latter’s commercial vehicle fleet portfolio in the country. The order includes cars from Tata Motors’ Medium & Heavy Commercial Vehicle and Intermediate & Light Commercial Vehicle ranges, which will be used for the company’s logistical operations in India. On the back of greater revenues, the company increased its consolidated net profit by 74% to Rs 552 crore in the December quarter (Q3FY22). Profit after tax (PAT) increased for the tenth consecutive quarter.
Commenting on the development, Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicle Business Unit, Tata Motors, said, “We are delighted to secure the prestigious order of 1300 vehicles from VRL Logistics ltd. I’m confident that our vehicles will bring great value to their operations.” Tata Motors is also eyeing big investments in the electric vehicle (EV) segment. The company is planning to invest Rs 15,000 crore in the EV segment in the next five years.
