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Mumbai: Tata Indica, the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>'s big passenger car bet, was not delivering expected returns a year into its launch. Desperate, the <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> brass, led by <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, acceded to a meeting request from <keyword id="23121503" type="General" weightage="20" keywordseo="Ford-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Ford Motors" meta.hostid="261" meta.entityid="Ford Motors">Ford Motors</keyword> for a possible sale of the passenger vehicles division to the American auto major. Some people had advised Tata to sell the business, and the Ford officials came to Bombay House to hold talks. During the meeting at the Tata headquarters, the American company evinced interest in buying out the business after the not-so-warm response to the hatchback car for over a year since launch. Soon, top Tata officials, led by Ratan Tata, went to the US for a further meeting, which lasted about three hours. According to a person who attended the meeting, officials from Ford "humiliated" the visiting Indians at the meeting in Detroit. "You do not know anything, why did you start the passenger car division at all," the Ford officials told their guests, and spoke about doing a favour to the Indian company by buying out the latter's business. The team decided to return to India immediately after the meeting, which was described as "humiliating" by the person present. On the 90-minute flight taking them back to New York, a sombre Ratan Tata spoke very few words. "This was in 1999 and come 2008, the same Ford's <keyword id="19916884" type="General" weightage="20" keywordseo="JLR" source="keywords">JLR</keyword> was bought by us. Ford chairman Bill Ford thanked Tata, saying, 'You are doing us a big favour by buying JLR'," Pravin Kadle, a long-time group veteran, had recounted during a public event a few years ago. In 2008, the Tata Group bought the iconic brands from making sedans and sports utility vehicles in a USD 2.23-billion deal from Ford. Post-acquisition, the Tata Group has scripted one of the most fabulous turnarounds in the auto industry and has been able to position the marquee British brands as formidable entities in the fiercely competitive global car market. Even as Tata Motors has come a long way and gained market share in India, it continues to earn a significant part of its revenues from the JLR.

The Tata way of paying back humiliation: doing the 'favour' of 'buying out'

<keyword id="13751053" type="General" weightage="70" keywordseo="Tata-Passenger-Electric-Mobility" source="Orion">Tata Passenger Electric Mobility</keyword> Ltd. and <keyword id="42034" type="General" weightage="40" keywordseo="jaguar" source="Orion">Jaguar</keyword> Land Rover (<keyword id="45218" type="General" weightage="50" keywordseo="jlr" source="Orion">JLR</keyword>), both 100 percent subsidiaries of <keyword id="42747" type="General" weightage="90" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, have entered into a Memorandum of Understanding (MoU) for the licencing of Jaguar's EMA platform for the development of the 'premium pure electric' vehicle series 'Avinya'. Pure electric mid-sized SUVs for international markets are to be launched from 2025 onwards, according to a release from Tata Motors. The electric cars, based on the Avinya concept, will now be developed on JLR's Electrified Modular Architecture in exchange for a royalty fee, according to the press release issued on Thursday. "Avinya stands for 'Innovation' and represents our vision for a new paradigm in personal mobility. Being built on an architecture that is equipped with the latest advances in new-age technology, software and artificial intelligence, Avinya will spawn a new breed of world-class EVs, with global standards in efficiency and range. We are delighted to collaborate on the EMA platform with JLR for actualizing this vision," Anand Kulkarni, Chief Product Officer and Head HV Programmes, Tata Passenger Electric Mobility. Thomas Mueller, Executive Director, Product Engineering, JLR, said, "We are proud that JLR's world class engineering expertise, demonstrated by our EMA platform, will help accelerate TPEM's electrification journey. This partnership is a further example of great collaboration within the Tata Group, to share value, knowledge and deliver synergies". The access to JLR's platform will help accelerate TPEM's entry into the high-end EV segment while reducing development cycle time and costs. Part of the USD 128 billion Tata group, Tata Motors, a USD 42 billion organization, is a leading global automobile manufacturer of cars. With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors' vehicles are marketed in Africa, the Middle East, Latin America, Southeast Asia and SAARC countries.

Tata Motors' subsidiary signs MoU with Jaguar to develop premium EVs

New Delhi, <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> on Monday said its board has approved the proposal to demerge the company into two separate listed entities. The commercial vehicles business and its related investments would be housed in one entity while the passenger vehicles businesses including PV (Passenger Vehicle), EV (Electric Vehicle), <keyword id="19916884" type="General" weightage="20" keywordseo="jlr" source="keywords">JLR</keyword> ( Jaguar Land Rover), and its related investments would be part of the other entity, the auto major said in a regulatory filing. The demerger will be implemented through an <keyword id="19901085" type="General" weightage="20" keywordseo="nclt" source="keywords">NCLT</keyword> scheme of arrangement and all shareholders of <keyword id="20320550" type="General" weightage="20" keywordseo="tml" source="keywords">TML</keyword> (<keyword id="20176909" type="General" weightage="20" keywordseo="tata-motors-ltd" source="keywords">Tata Motors Ltd</keyword>) shall continue to have identical shareholding in both the listed entities, it added. Tata Motors shares on Monday ended 0.12 per cent down at Rs 987.20 apiece on the BSE. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-record-11-3-growth-in-february-2024-two-wheelers-record-35-growth/articleshow/108204817.cms">Passenger vehicles record 11.3% growth in February 2024, two-wheelers record 35% growth</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f15-5g-with-6000mah-battery-launched-in-india-starting-at-15999/articleshow/108202302.cms">Samsung Galaxy F15 5G with 6,000mAh battery launched in India starting at ₹15,999</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-march-2024/slidelist/108090741.cms">Upcoming smartphones launching in India in March 2024</a>

Tata Motors to demerge biz into two separate listed companies

<ul><li><keyword id="1070850" type="General" weightage="20" keywordseo="tata-motors-owned-jaguar-land-rover" source="Orion">Tata Motors-owned Jaguar Land Rover</keyword> reported retail sales of 1,01,994 units in the first quarter ended June 30. </li><li>The growth reflects continuing improvement in chip and other supply constraints, Tata Motors said in a regulatory filing. </li><li>The order book remained strong with over 1,85,000 client orders at quarter end, down from 2,00,000 at March 31, 2023, the company said. </li><li>Shares of Tata Motors scaled a fresh 52-week high earlier in the day before shedding some of the gains to close the day up 3.7%. </li></ul> Tata Motors-owned Jaguar Land Rover on Friday reported a 29% rise in retail sales in the first quarter ended June 30 at 1,01,994 units, as compared to the same period a year ago. The growth reflects continuing improvement in chip and other supply constraints, Tata Motors said in a regulatory filing. Wholesales, excluding those of Chery Jaguar Land Rover China JV, were at 93,253 units in the first quarter, up 30% as compared to the year-ago period. "The order book remained strong with over 1,85,000 client orders at quarter end, reducing from 2,00,000 at March 31, 2023 in line with expectations, as chip and other supply constraints continue to improve," the company said. <keyword id="91410" type="General" weightage="20" keywordseo="range-rover" source="Orion">Range Rover</keyword>, Range Rover Sport and Defender demand remains particularly strong, representing 76% of the order book, it added. Shares of Tata Motors scaled a fresh 52-week high of ₹624.80 on the NSE earlier in the day before shedding some of the gains to close the day at ₹622.90, up 3.7%. (With inputs from PTI)

Tata Motors' JLR Q1 retail sales up 29% in April-June 2023

<keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> on Friday reported over three-fold jump in consolidated net profit at Rs 17,528.59 crore in the fourth quarter ended March 31, 2024, riding with all its three auto businesses delivering a strong performance, specially the British arm <keyword id="20059278" type="General" weightage="20" keywordseo="Jaguar-Land-Rover" source="keywords" meta.keywordsubtype="org" meta.entityname="Jaguar Land Rover" meta.hostid="261" meta.entityid="Jaguar Land Rover">Jaguar Land Rover</keyword>. The company had posted a consolidated net profit of Rs 5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing. Total consolidated revenue from operations stood at Rs 1,19,986.31 crore, as compared to Rs 1,05,932.35 crore in the year-ago period. In <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword> FY24, Tata Motors said all three auto businesses delivered strong performance. The company's British arm Jaguar Land Rover had "another record-breaking quarter in Q4 FY24. Revenue for the quarter was 7.9 billion pounds, up 11 per cent versus Q4 FY23", Tata Motors said. JLR's Profit After Tax (PAT) in Q4 was 1.4 billion pounds as against a profit of 259 million pounds in the same quarter a year ago, it added. The Board of Directors have recommended a final dividend of Rs 3 per ordinary share and Rs 3.10 per 'A' ordinary share and a special dividend of Rs 3 per ordinary share and Rs 3.10 per 'A' ordinary share subject to approval by the shareholders. For the fiscal ended March 31, 2024, consolidated net profit was at Rs 31,806.75 crore as compared to Rs 2,689.87 crore in the previous fiscal, the company said. In FY24, total consolidated revenue from operations stood at Rs 4,37,927.77 crore as compared to Rs 3,45,966.97 crore in FY23. <keyword id="20430970" type="General" weightage="20" keywordseo="tata-motors-group" source="keywords">Tata Motors Group</keyword> Chief Financial Officer, PB Balaji said in FY24 the Tata Motors Group delivered its highest-ever revenues, profits, and free cash flows. "The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and therefore, we are confident of sustaining this strong performance in the coming years," he added. JLR's revenues for FY24 were 29 billion pounds, its highest-ever full-year revenue and up 27 per cent compared to the prior year, while PAT for FY24 was 2.6 billion pounds. "We have delivered a record financial performance for the company, generating free cash flow of 2.3 billion pound, enabling us to reduce net debt to 0.7 billion pound," JLR Chief Executive Officer Adrian Mardell said. The foundation of this performance was the sustained global demand for JLR's modern luxury vehicles, led by Range Rover and Defender brands, underpinned by a consistent focus on operational improvement, he added. Tata Commercial Vehicles' Q4 FY24 revenue was at Rs 21,600 crore, while FY24 revenue was Rs 78,800 crore. In Q4 FY24, domestic wholesale commercial vehicles (CV) volumes were 1,04,600 units, lower 7 per cent year-on-year on account of increased pre-buy in Q4 FY23 due to BS6 Phase II transition, the company said. Tata Motors Ltd Executive Director Girish Wagh said the Indian CV industry grew by a modest 2 per cent in volumes during FY24, impacted by a high base effect of FY23, elections held across five states and the announcement of general elections. "Our sharp focus on profitable growth resulted in the CV business recording its highest-ever revenues of Rs 78,800 crore and profits of Rs 6,100 crore in FY24. Going forward, we will intensify our efforts to grow market share, profitably and consistently, in every business segment by delivering more value to customers with innovative products, smarter services and holistic mobility solutions," he added. Tata Passenger Vehicles clocked revenue of Rs 14,400 crore in Q4 while for the full year FY24 it was at Rs 52,400 crore. In Q4, Passenger Vehicle (PV) volumes were at 1,55,600 units, up 14.8 per cent from the year-ago period, supported by new SUV facelifts and multiple power trains, the company said. "Passenger vehicle sales in India set a record in FY24 with over 4.2 million units sold, driven by SUVs (50 per cent of overall sales) and emission-friendly powertrains. Tata Motors recorded its third consecutive year of highest sales volumes with 6 per cent growth in wholesales and 10 per cent in retail sales over FY23," Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Managing Director Shailesh Chandra said. The company sold 73,800 EVs during the year, marking a 48 per cent increase as compared to FY23 and crossed a milestone of 1.5 lakh cumulative EV production, he added. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a><a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms" target="_blank">IPL Decoded: Highest individual scores in IPL 2024 so far, from Stoinis to Kohli</a><a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank">Apple and Samsung dominate the top-selling smartphones in Q1 2024</a>

Tata Motors Q4 consolidated net profit jumps over 3-fold at ₹17,528.59 crore

<ul><li> Production at the new gigafactory is due to start in 2026.</li><li><keyword id="6354362" type="General" weightage="50" keywordseo="jaguar-land-rover" source="Orion">Jaguar Land Rover</keyword> will be the anchor customer of the new gigafactory.</li><li>The new gigafactory with an initial output of 40GWh will be one of the largest in Europe.</li></ul> The UK government on Wednesday announced that the <keyword id="6355725" type="General" weightage="80" keywordseo="tata-group" source="Orion">Tata Group</keyword> is to invest over 4 billion pounds in setting up a new electric vehicle (EV) battery plant, or gigafactory, in Britain which will create thousands of jobs across the supply chain. British Prime Minister <keyword id="221875" type="General" weightage="70" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> hailed it as an "incredibly proud" moment for the country's automotive industry and described it as a testament to the strength of the UK car manufacturing industry and its skilled workers. <keyword id="42747" type="General" weightage="60" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> owns UK-based luxury carmaker Jaguar Land Rover (JLR), which will be the anchor customer of the new gigafactory with an initial output of 40GWh - making it one of the largest in Europe. Production at the new gigafactory is due to start in 2026 and is pitched as a key driver behind Sunak's priority to grow the UK economy. "Tata Group's multi-billion-pound investment in a new battery factory in the UK is a testament to the strength of our car manufacturing industry and its skilled workers," said Sunak. "With the global transition to zero-emission vehicles well underway, this will help grow our economy by driving forward our lead in battery technology whilst creating as many as 4,000 jobs, and thousands more in the supply chain," he said. "We can be incredibly proud that Britain has been chosen as home to Tata Group's first gigafactory outside India, securing our place as one of the most attractive places to build electric vehicles," the British prime minister said. As one of the largest-ever investments in the UK auto industry, the new factory will create up to 4,000 highly skilled jobs as well as thousands of further jobs in the wider supply chain for battery materials and critical raw minerals. The gigafactory will secure UK-produced batteries for JLR as well as other manufacturers in the UK and Europe. The location of the new gigafactory is expected to be in Somerset, south west England. "Our multi-billion-pound investment will bring state-of-the-art technology to the country, helping to power the automotive sector's transition to electric mobility, anchored by our own business, JLR," said N Chandrasekaran, Chairman of parent company Tata Sons. "With this strategic investment, the Tata Group further strengthens its commitment to the UK, alongside our many companies operating here across technology, consumer, hospitality, steel, chemicals, and automotive," Chandrasekaran said. The Department for Business and Trade (DBT) said details of the government's incentives and support provided to the Tata Group as part of the agreement will be published in due course as part of regular transparency data. However, reports in the lead-up to the announcement had indicated subsidies in the form of grants, energy subsidies and other training and research funding would be part of the agreed package. "Today's multibillion-pound investment demonstrates that this government has got the right plan when it comes to the automotive sector," noted UK Business and Trade Secretary Kemi Badenoch. "We are backing the UK car industry to help grow our economy as we transition to electric vehicles, and this latest investment will secure thousands of highly-skilled jobs across the country," Badenoch said. The investment of over 4 billion pounds is seen as a historic moment for the UK's growing electric vehicles (EV) industry, with JLR's suite of <keyword id="91410" type="General" weightage="50" keywordseo="range-rover" source="Orion">Range Rover</keyword>, Defender, Discovery and Jaguar brands as the key customers. The Tata investment is described as crucial to boosting the UK's battery manufacturing capacity needed to support the electric vehicle industry in the long term and the new plant will cover almost half of the battery production that the Faraday Institution estimates the country will need by 2030. "This is a huge vote of confidence in the UK and one that will drive growth in our economy, creating thousands of jobs and powering our transition to electric cars," said UK Chancellor Jeremy Hunt. "Tata Group's gigafactory builds on the strength of our manufacturing industry and shows we're on the right track, backing the sectors that will underpin our future prosperity for decades to come," he said. DBT said the government is committed to making the UK one of the best places in the world for automotive investment, as evidenced by the Automotive Transformation Fund (ATF), the British Industry Supercharger supporting industry energy needs, and the strong programme of support for research and development. "This new gigafactory puts us firmly in the fast lane to becoming the capital of Europe's electric car market, and makes crystal clear how they see the UK as the place to be for their future growth," added UK Energy Security Secretary Grant Shapps. "With thousands of jobs on-site and in the supply chain, this new factory will be the cornerstone of our automotive industry, backing manufacturers to develop and expand, and customers to make the switch from petrol and diesel," he said.

You Searched For "Tata Motors JLR" and got 6 results

The Tata way of paying back humiliation: doing the 'favour' of 'buying out'

PTI

Tata Motors' subsidiary signs MoU with Jaguar to develop premium EVs

ANI

Tata Motors to demerge biz into two separate listed companies

PTI

Tata Motors' JLR Q1 retail sales up 29% in April-June 2023

BI India Bureau

Tata Motors Q4 consolidated net profit jumps over 3-fold at ₹17,528.59 crore

PTI

Rishi Sunak hails Tata Group's multi-billion EV investment in UK

PTI

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