Indian major car maker, Tata Motors, as a part of its future plans, said that it will inject about Rs 10,000 crore funds in the coming 2-3 years on product development, modernization of its facilities and other capital expenditure purposes.

After seeking shareholders' approval through a postal ballot to raise long-term funds, among others, the company said it has plans to expand its product portfolio and strengthen its presence in the domestic and global markets in both commercial and passenger vehicle segments.

"As a part of its future growth strategy for the domestic and international markets, the company plans to incur about Rs 10,000 crore in the next 2-3 years towards product development, capital expenditure in capacity enhancement, plant renewal and modernization and other meaningful growth opportunities," it added.

In terms of fund source, the company said a part of this amount will be generated internally, while the rest is to be supported by the planned raising of long-term funds through the issue of securities in domestic and international markets. Tata Motors plans to raise about Rs 4,700 crore through long-term fund of securities in domestic and international markets.

It had announced that the production of its mini-trucks Ace at its Pantnagar facility will be pushed up to 20,000 units a month from 15,000 units at present within the next two months.

Further, Tata Motors will also start rolling out light and medium commercial vehicles from its new plant in South Africa by the end of this fiscal.

The company, which made a turnaround by posting Rs 2,571.06 crore profits in 2009-10, had earlier said that it would invest around Rs 3,000 crore during 2010-11 in its domestic operations, besides about Rs 5,000 crore for the Jaguar Land Rover (JLR) unit.

A peek of Tata's incoming cars was showcased at the Delhi Auto Expo this year, one was `Aria', a cross-over between a multi-utility and sports utility vehicle. This is likely to hit the roads in the coming months. It is also planning to launch a passenger carrier `Magic Iris' and MPV `Venture', which were previewed at the expo.

Tata Motors registered a 49.05 per cent increase in its total sales during June, 2010 at 67,730 units compared to 45,440 units in the same month in 2009.