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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'

Luxury automaker <keyword id="6354362" type="General" weightage="20" keywordseo="jaguar-land-rover" source="Orion">Jaguar Land Rover</keyword> on Thursday reported record <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">sales</keyword> at 3,582 units for nine months ended December 31, 2023. The company said its sales rose 93 per cent year-on-year as compared to the April-December period of the last fiscal. <keyword id="91410" type="General" weightage="20" keywordseo="range-rover" source="Orion">Range Rover</keyword> and <keyword id="77523" type="General" weightage="20" keywordseo="defender" source="Orion">Defender</keyword> continue to lead with a year-on-year (YoY) rise of 250 per cent, contributing to over 75 per cent of the current <keyword id="240614" type="General" weightage="20" keywordseo="order-book" source="Orion">order book</keyword>, the automaker said. In the October-December quarter, the company reported a 74 per cent YoY growth, achieving retail sales of 1,226 units, it added. The newly launched Range Rover Velar witnessed a YoY sales growth of 183 per cent in the quarter, JLR said. "Over the past nine months, JLR's progress in India has been characterised by consistent and substantial growth. Each quarter has shown an impressive year-on-year surge of nearly 100 per cent," JLR India Managing Director Rajan Amba said. The burgeoning order bank and continuous order intake signal a robust demand, underscoring promising future prospects, he added. "...the eagerly awaited Range Rover BEV has generated significant interest among clients across the country, and with our upcoming launches this quarter, we are poised to sustain our remarkable growth trajectory in India," Amba said. The company's order book at the end of the third quarter remained strong with a YoY growth of 92 per cent, it stated. The current total order book covers more than eight months of sales and is seeing a consistent increase month-on-month, it added.

JLR reports best-ever sales at 3,582 units in April-December period

<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

<keyword id="45218" type="General" weightage="20" keywordseo="jlr" source="Orion">JLR</keyword> India on Monday said it has recorded its best ever first quarter sales in the country in April-June 2023. The company said its retail sales rose 102 per cent to 1,048 units in the June quarter as compared with the same period last year. The performance was enabled by a phenomenal growth of 209 per cent in <keyword id="91410" type="General" weightage="20" keywordseo="range-rover" source="Orion">Range Rover</keyword>, Range Rover Sport and Defender sales, JLR India said in a statement. The three models continue to see sustained demand, contributing 78 per cent of the current order book, it added. "This performance is testament to the exceptional equity of the JLR brands and our class-leading collection of modern luxury vehicles. Backed by the growing demand among our discerning clients, our order book remains strong and growing, and we are excited and confident of our India story ahead," JLR India Managing Director Rajan Amba stated. JLR said its pre-owned business grew 137 per cent in the first quarter of the current fiscal. The company stated that it has an impressive line-up of product initiatives scheduled for the year, starting with the enhanced Range Rover Velar - bookings for which commenced recently. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/netweb-technologies-ipo-how-to-check-allotment-gmp-listing-date-and-more/articleshow/102068898.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/netweb-technologies-ipo-how-to-check-allotment-gmp-listing-date-and-more/articleshow/102068898.cms" target="_blank">Netweb Technologies IPO allotment – how to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/business/auto/news/the-ola-s1-air-is-the-affordable-offering-from-the-company-and-will-soon-go-on-sale-in-india/slidelist/102074223.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-s1-air-is-the-affordable-offering-from-the-company-and-will-soon-go-on-sale-in-india/slidelist/102074223.cms" target="_blank">Ola S1 Air to hit Indian roads soon – price, features and everything you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms">Samsung Galaxy Z Fold 5, Z Flip 5, Galaxy Watch Series 6 and more set to launch July-end</a>

JLR India reports highest ever first quarter sales

<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

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> 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.

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

PTI

JLR reports best-ever sales at 3,582 units in April-December period

PTI

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

ANI

JLR India reports highest ever first quarter sales

PTI

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

BI India Bureau

Tata Motors to demerge biz into two separate listed companies

PTI

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

PTI

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