Tata Motors shares rose more than 2% in early trading after Jaguar Land Rover announced plans to invest £500 million ($669 million) retooling one of its factories in England, which is set to begin manufacturing electric SUVs.
The manufacturer of Range Rover and Land Rover vehicles had invested £250 million in its Halewood facility near Liverpool in the last 12 months. The firm stated in a statement on Thursday that it will double its expenditure in the coming years and that the manufacturing facility will eventually be its first to go all-electric.
As of 11:00 am, Tata Motors shares were trading 1.70% higher at Rs 980.00 on the NSE.
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