Tata Motors is currently working on various upcoming models such as the Nexon, Hexa and the Kite 5 (Tiago compact sedan) and the company recently reported an overall sales growth of 8.9% Y-o-Y in April 2016. Now, making more news; the company is reported to have spent a massive amount on Research and Development (R&D).
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According to reports, the company spent 2,204 crores, which is 6.07% of its turnover for R&D projects that took place in the financial year 2015. The effects of the same can be seen in Tata’s new as well as upcoming products that form the vast product portfolio for the automobile manufacturer. Also, their investments reflect through their current innovative technologies and design studios. The company recently received a patent for a new start-stop system that was designed keeping in mind the behavior of the Indian customer.
As the company is working to transform its image through its portfolio, it looks to introduce new models in the upcoming months. The company recently launched the Tiago Hatchback and is now working on a compact sedan based on the model, codenamed as the Kite 5. Other products such as the Hexa and the Nexon were displayed at the 2016 Auto Expo. While the former is likely to be launched by the end of the year, the Nexon is supposedly in its final stages of testing.
Source: Business Standard