What Happened: The upcoming plant will possess a capacity of 40GWh and guarantee a local supply of batteries for another significant Tata venture, Jaguar Land Rover (JLR), along with other prominent manufacturers based in the UK and Europe.
Reacting to the development, global research firm Morgan Stanley said that while developing batteries in-house may pose technological risks but shields the company’s supply chain from potential geopolitical risks.
The firm maintained its ‘overweight’ rating for the stock with a price target of ₹711 as it expects the Tata Group’s focus on EVs to help Tata Motors EV ramp up.
Price Action: Tata Motors’ share price was up 0.040% to trade at ₹620.85 shortly after the markets opened on Thursday.
Get Ring The Bell, Benzinga India’s weekly briefing. Designed specifically for investors like you.
Read Next: Why This Tata Stock Is Upbeat Today
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.