Tata Motors Passenger Vehicles Ltd.

In a bid to develop new products and technologies for its commercial vehicle segment, Tata Motors is planning to invest around Rs 1,500 crore in the next financial year.

As part of its plan to be future-ready with a range of products, the company had launched low-priced truck models under the ‘Prima’ brand earlier this month to tap the high-volume, multi-axle segment in the country.

The new Prima LX is about 20 per cent cheaper than the Prima range of trucks, which was launched by Tata Motors in 2009. The Prima LX range is priced between Rs 18.5 lakh and Rs 32.5 lakh. The company sells Prima range of trucks for between Rs 23 lakh and Rs 65 lakh.

Besides, the company is looking to develop a new range of buses to cater to Jawaharlal Nehru National Urban Renewal Mission (JNNURM) requirements.

Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.