New Delhi, July 24 -- For Tata Group chairperson N. Chandrasekaran, Tata Motors Ltd has been one of the conglomerate's standout performers in recent years-rising to third spot in a market dominated by Maruti Suzuki India Ltd and Hyundai Motor India Ltd.

In Chandrasekaran's letter to shareholders as part of Tata Group's holding company Tata Sons' latest annual report, the auto business found a special mention.

"Let me pause and mention one example that exemplifies the best of what we can do: Tata Motors," Chandrasekaran said in his letter.

"With barely 5% share in passenger vehicles in 2017, it seemed an implausible idea that Tata Motors could launch India's first electric vehicle in under one year from design to production, that its ma...