India’s automotive giant, Tata Motors, has announced an increase in the prices of its commercial vehicles. Starting July 1, the prices are set to rise by around 2%. The company cited increasing commodity prices as the primary reason for this price hike, which will vary across different vehicle variants.

Last Price Hike Was in March

Tata Motors last raised the prices of its commercial vehicles by 2% in March. The company is currently working on launching new products designed for next-gen customers in India, the UK, the USA, Italy, and South Korea.

These new vehicles will feature modern technology. For the fiscal year 2024, Tata Motors reported revenue of $52.44 billion.

Stock Performance: A Stellar Year

This year has been exceptional for Tata Motors’ stock, which has surged by approximately 26.6%. However, as of Wednesday afternoon, the shares on the National Stock Exchange (NSE) dipped by around ₹2.40 (0.24%), trading at approximately ₹983.

Despite this, the stock has frequently crossed the ₹1,000 mark this year.

Freelander’s Electric Comeback

In other exciting news, Tata Motors’ subsidiary Jaguar Land Rover plans to relaunch its popular Freelander model in an electric version.

To achieve this, they have partnered with China’s Chery Automobile. The Freelander, which was discontinued nearly a decade ago, is set for a grand comeback in an electric avatar.

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