MUMBAI: Tata Group has set a target of $100 billion in automotive revenue by FY2031, chairman N Chandrasekaran said Wednesday, laying out an ambitious growth path for the conglomerate's largest business vertical.

Tata Motors Passenger Vehicles aims for 1.2 million annual sales and 20% market share by FY31, backed by new models and EVs.

Tata Motors aims for a USD 100 billion automotive business by FY31. The company plans substantial capital expenditure for domestic operations and JLR. Passenger vehicles will…