Tata Motors shares hit 52-week high on Rs 13,000 crore EV battery plant deal

Tata Motors’ shares rose 2.3% after the Tata Group announced plans to invest INR 13,000 crore ($1.8bn) in setting up a lithium-ion plant in Gujarat through Tata’s Agratas Energy Storage Solutions unit and the Gujarat government. The plant will be situated in Sanand, northern Gujarat, and will have an initial manufacturing capacity of 20-gigawatt hours, which could be doubled later. The investment will occur in two phases, according to an official announcement by the Gujarat government, with work expected to begin in less than three years.