Tatas used to sell refrigerators, washing machines, and air-conditioners till 1998 under the Voltas brand when it decided to concentrate on its core business of air-conditioners, commercial freezers, and projects as part of restructuring the company.
The chairman of Tata Group firm Voltas, Noel Tata, will oversee the second coming of the group into India’s Rs 35,000-crore white goods market in August launching refrigerators, washing machines, microwave ovens and dishwashers under the VoltasNSE -0.60 % Beko brand and an investment of Rs 1,000 crore and corner 10% market share, a senior group executive said.
It exited businesses like white goods, distribution of soft drinks, forklifts and industrial products. However, Voltas continued contract manufacturing of refrigerators for LG and Samsung until 2003.
Pradeep Bakshi, managing director at Voltas and a board member of Voltbek Home Appliances said, “The Voltas Beko range will have highly competitive pricing since we want to become a formidable player rubbing shoulders with the Korean, Chinese and other homegrown brands. However, at a product level, we want to be profitable from the first day. We are looking at an overall investment of about Rs 1,000 crore”.
He also said “Domestic production will start from mid-2019 and will have the capacity for one million refrigerators and washing machine and half a million microwave ovens. We are investing around Rs 240 crore for this”.