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Tata Motors demerge its businesses into two separate listed companies

5Mar By PriyankaNo Comments

Automobile

Tata Motors demerge its businesses into two separate listed companies

The Board of Directors of Tata Motors Limited has approved the proposal of demerger of Tata Motors Ltd into two separate listed companies housing A) the Commercial Vehicles business and its related investments in one entity and B) the Passenger Vehicles businesses including PV, EV, JLR and its related investments in another entity. The demerger will be implemented through an NCLT scheme of arrangement and all shareholders of TML shall continue to have the identical shareholding in both the listed entities. Over the past few years, the Commercial Vehicles (CV), Passenger Vehicles (PV+EV), and Jaguar Land Rover (JLR) businesses of Tata Motors have delivered a strong performance by successfully implementing distinct strategies. Since 2021, these businesses have been operating independently...

Tata Nano Ends 2019 with Zero Production, Sold One Unit Only

7Jan By Press Trust of IndiaNo Comments

Automobile

Tata Nano Ends 2019 with Zero Production, Sold One Unit Only

NEW DELHI: Tata Motors did not produce a single unit of its entry-level car Nano in 2019 although it sold just one unit in February even as the company is yet to officially retire Ratan Tata's “people's car”. According to a regulatory filing by the company, Tata Motors had zero production and sales of the Nano in December 2019 while it produced 82 units and sold 88 units in December 2018. Similarly, in November 2019 there was zero production and sales of the entry-level model, whereas in the year-ago period it produced 66 units and sold 77 units. In October 2019 also, according to the filing, it did not produce or sell any unit of the Nano while in the year-ago month it rolled out 71 units while selling 54 units. In the first nine months of 2019 also Tata Motors did not produce...

TATA Motors Ex-President invests in Escooter Startup BattRE

9Jul By PriyankaNo Comments

FUNDING

TATA Motors Ex-President invests in Escooter Startup BattRE

New Delhi, July 2019: Ex-Tata Motors’ President Gajendra Chandel invests in BattRE, an electric scooter startup based in Jaipur. The funds will be utilized for the launch of new models, increasing production capacity and scaling up the distribution and service network. BattRE Electric Mobility has introduced affordable E-scooters and packaged a whole gamut of innovative features & services to truly enhance the customer experience as they step into the green technology revolution. Nishchal Chaudhary, Founder of BattRE Electric Mobility, “We are absolutely delighted and honoured to have Mr. Gajendra Chandel onboard our company, BattRE Electric Mobility.His in-depth knowledge and vast experience in the automotive sector will provide us with the necessary impetus and guidance. Unde...

Tata’s JLR to shed 4,500 Jobs Worldwide Amid Slumping Sales in China, Brexit Concerns

11Jan By AnkitaNo Comments

Automobile

Tata’s JLR to shed 4,500 Jobs Worldwide Amid Slumping Sales in China, Brexit Concerns

Jaguar Land Rover, owned by Indian conglomerate Tata Motors announced around 4,500 job cuts worldwide after the dwindling sales in China and concerns about UK's competitiveness post Brexit. The JLR's manufacturing is centred in the UK, with additional plants in China, Brazil, Austria and Slovakia. In India, the company has an assembly unit in Pune. As per the report, the substantial majority of the 4,500 job cuts will be from JLR's 40,000-strong UK workforce. Most of the cuts will be in office roles as the company wants to simplify its management structure, it said. China is JLR's biggest and hitherto most profitable market. In China it has hired 4,000 workers since 2014. The JLR has been saying for more than a year that Brexit uncertainty would eventually take its toll on t...

Tata Motors Halts Operations in Thailand

1Aug By Gauri SinghNo Comments

News

Tata Motors Halts Operations in Thailand

Tata Motors, one of the largest automobile makers in India has announced that the company has decided to halt manufacturing operations in Thailand, citing viability issues. However, the company would continue to sell vehicles in the country through the medium of imports. Tata Motors has undertaken a reassessment of its business model in Thailand to make sure that the company is sustainable over the long term. The company clearly told that the decision was taken due to a subscale and unsustainable business in the region. “The business as it stands today is sub-scale and not sustainable. We have hence decided to cease the current manufacturing operation in this financial year," stated Tata Motors. Moving further, Tata Motors also stated that the company would continue to address the Tha...

Ola and Uber Cancel Orders from Tata Motors and the Reason is Cyris Mistry

16Jul By Gauri SinghNo Comments

News

Ola and Uber Cancel Orders from Tata Motors and the Reason is Cyris Mistry

The popular cab aggregators, Ola and Uber have withdrawn a substantial number of orders of around 2.7 lakh vehicles from the largest automobile maker Tata Motors. These companies that have been a valuable player in the ride-hailing space, obtain cars from automakers to make it available for the cab drivers on installments, but now it has lost a good number of orders. This event was the outcome of a clash between the chairman emeritus Ratan Tata and company’s former chairman Cyrus Mistry. “How will Tata Motors justify turning away any proposal for a guaranteed offtake?“ asked Tata. According to the reports, Ratan Tata was in talks with Ola co-founder Bhavish Aggarwal who was willing to obtain 10,000 Nanos and Indicas/Indigos from Tata Motors on an immediate purchase, a lease or a j...

Tata Motors Invests First Time in a Startup, Acquires 26% Equity

10Jul By PriyankaNo Comments

ACQUISITION

Tata Motors Invests First Time in a Startup, Acquires 26% Equity

India's biggest automobile company Tata Motors acquired 26% stakes in a tech-based freight aggregator TruckEasy. This is the first investment in a startup being done through Tata Motors Finance Holdings, a wholly-owned subsidiary of Tata Motors. However, the company did not disclose the amount. The Bengaluru based startup Truckeasy will use this investment to expand its footprint in other cities. Bengaluru based logistics company TruckEasy registered as a Loginomics Technologies Solutions Ltd, was formed in 2015 providing service for transporting needs of businesses within the city. As per the information on the website, TruckEasy transport anything within Bangalore using Light commercial vehicles. You can rent Tata Ace, Super Ace at the click of a button. Sign up and book mini...

Jaguar Reveals its First Electric Car I-Pace

28Jun By Lavina TolaniNo Comments

News

Jaguar Reveals its First Electric Car I-Pace

While the automotive industry is gearing up for next Electric Vehicle boom in the world, luxury vehicle brand of Indian Tata Motors, Jaguar has finally unveiled its first production electric vehicle-the I-Pace. It is interesting to note that Jaguar had first showcased the iPace concept in 2016 and now in 2018, the production-spec version of the all-electric SUV has is nearing its global debut in a couple of days at the 2018 Geneva Motor Show. Jaguar had been extensively testing the car and in fact, the design, according to Ian Callum, Jaguar Director of Design, 'is developed by using physics'. As per auto experts, the new electric vehicle will amp up competition for rival Tesla Model X. The company has confirmed that it has successfully tested the SUV across Europe in temperatures ra...

Tata Power Pacts with Tata Motors to Make Maharshtra EV Ready

1Jun By Lavina TolaniNo Comments

BUSINESS

Tata Power Pacts with Tata Motors to Make Maharshtra EV Ready

Electric Utility Company Tata Power Ltd. has partnered with Tata Motors Ltd. to make Maharashtra electric vehicle ready, a move that will focus on establishing charging stations in the state for public use. The company has signed a MoU with the state to support the Maharashtra Electric Vehicle Policy (2018) in accelerating the adoption of electric vehicles, as informed in the Tata Motors official statement. The event witnessed Maharashtra Chief Minister Devendra Fadnavis inaugurating the new EV charging stations to mark the week-long World Environment Day celebration. Meanwhile, CEO & MD, Tata Power, Praveen Sinha said, We are happy to present Maharashtra with various electric vehicle charging stations that cover the wide expanse of the city. As a part of the pact, nine locatio...

Tata Group Offers ESOP’s for Employees Breaking 150 Yr Old History

26May By Lavina TolaniNo Comments

News

Tata Group Offers ESOP’s for Employees Breaking 150 Yr Old History

Tata Group, India's Biggest Commercial Vehicle Manufacturer has announced to offer employee stock option for the first time in 150 years to its top 200 executives while the company is set to enter its next round of turnaround strategy. This move will mark first of its kind initiative done in an Indian automotive space by a $100 billion company. Three criteria shall be used to assign stock options which shall be based on performance metrics as informed by the company official: Gain in market share EBIT margin improvement Free cash flow as a percentage of revenue B Balaji, Tata Motors CFO said while addressing the conference, This is to ring-fence critical talent during the turnaround phase and to match employee payoffs to the long-term gestation period of key i...

11Apr By Lavina TolaniNo Comments

CHINA

China Vows to Open Economy, Reduce Auto Import Tariffs

Xi Jinping, President of China promised to lower down import tariffs on products including cars and open country's economy in a speech delivered on Tuesday over matters concerning around ongoing trade tensions between China and the United States. At present, a 25 percent import duty is levied on Chinese imports. In his address speech at Boao Forum for Asia, President said, "China's door of opening will not be closed and will only open wider." Going by the present market scenario, if a foreign company operating in China partners with a local manufacturer, former's stake will be limited to 50 percent of the joint entity. This can come off as a great news for Jaguar Land Rover, a subsidiary of Tata Motor's which are involved in selling Range Rover and other high-end models to China. ...

SEBI Directs Tata Motors to Investigate on “Whatsapp Leak of Financial Information”

7Mar By Sheldan RungasamyNo Comments

INDIA

SEBI Directs Tata Motors to Investigate on “Whatsapp Leak of Financial Information”

Securities and Exchange Board of India (SEBI) announced on Tuesday that it expects Tata Motors Ltd to investigate on the leak of financial results for the quarter end (October-December) 2015 on Whatsapp ahead of its official release. Tata Motors is expected to complete the probe within three months and submit a report to SEBI within seven days, the board said. This decision comes after SEBI’s investigation against the automaker company revealed that the figures circulating on Whatsapp prior to the formal release of financial results were matching the actual numbers. In reaction to the announcement by SEBI, a spokesperson from Tata Motors said, “Tata Motors would like to state that it is fully committed to ensuring confidentiality of such price sensitive information. This lapse pertai...