The group’s transition will be strengthened with sustainability, wellness, and safety. It is playing out across the board with EVs, renewable energy, new materials, and chemicals, among others.
Tata Motors will make more EVs than ICE cars in 2030. Tata Power will produce significantly more renewable power than thermal. The sustainability focus aligns well with the group’s economic interest.
Thermal power plants owner Tata Power must play a major role in the sustainability plan.
Achieving sustainability targets will require use of new technologies. Tata Steel is working with start-ups on carbon capture, either for use within the system or converting into methanol or ethanol for commercial purpose.
While pursuing sustainability, companies will cash in on core competencies. Tata Chemicals, after selling its consumer products business, is focusing on expanding soda ash and sodium bicarbonate capacity.
The focus will be on reaping the benefits of the belt-tightening in the first term, leveraging new opportunities in emerging industries and encouraging legacy businesses to transition to cash in on opportunities thrown up by contemporary technology across sectors. It will be a case of building on the strong foundation.