Tatas' owned Land Rover on Thursday said it will introduce two new variants of sports utility vehicles Discovery 4 and Range Rover Sport in October this year in the UK, the on-road prices of which will start from 37,995 pounds (about Rs 27 lakh).
JLR is the UK's largest carmaker, which has witnessed a complete turnaround in its fortunes since Tata Motors acquired the traditional British brands from Ford 10 years ago.
While declining to comment on the intended takeover bid for JLR by Tata Motors, another group company, Myers said the relationship was close to four years old.
Tata Motors-owned Jaguar Land Rover has announced plans to shed 200 jobs across its UK operations but claimed that the redundancies were not connected with the economic downturn or slump in car sales.
The Unite union wants a 12.8 per cent pay rise
From its lows in December, the stock of Tata Motors is up about 15 per cent. The gains came on the back of better than expected December volumes in its UK-based subsidiary Jaguar Land Rover (JLR). This coupled with gradual recovery in the global passenger vehicle demand, improving profitability due to product mix and lower commodity costs are expected to be key positives for the company.
There is no impediment to normal operations as Tata Motors puts in place the demerger process of its commercial and passenger vehicles businesses. Instead, the demerger would provide greater manoeuvrability for both new entities to operate independently, according to Tata Motors management. While there may not be immediate value unlocking, it will give investors clarity about future growth and the financials across different segments.
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
UK-based JLR posted 16 per cent growth in retail sales in the past year, highest in the luxury car segment globally, on the back of launches, output ramp-up and better reach in world markets.
JLR, the maker of Jaguar F-Type and Range Rover Evoque, was a jewel in the crown of Tata Motors till two years back. But, it has been struggling because of the pending Brexit, a sharp contraction in sales in China, a shift in consumer preference from diesel to gasoline in Europe, higher taxes on diesel vehicles, and tightening regulations.
Tata Motors surpassed Maruti Suzuki (India) (MSIL) to become the most-valuable automobile company, in terms of market capitalisation (mcap), after a gap of seven years. With this, the company's stock hit a new high on the BSE on Tuesday (January 30). The combined mcap of Tata Motors (Rs 285.51 crore) and Tata Motors DVR (Rs 29,119 crore) stood at Rs 3.146 trillion.
The country's leading commercial and passenger vehicles manufacturer Tata Motors Limited on Tuesday ruled out the possibility of looking for a new partner in the UK after the tie-up with MG Rover Group snapped.
Tata Motors, which owns Jaguar and Land Rover, is in talks with the UK government on assistance for the luxury units as sales have plummeted.
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
Chandrayaan-1, India's first mission to the Moon, was launched on October 22, 2008 from Sriharikota spaceport in Andhra Pradesh.
It will also double employment at the site to around 1,400.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Expressing satisfaction at Indian conglomerate Tatas' move to pump in money into Jaguar Land Rover, the head of the UK's biggest union Unite, Tony Woodley, has said he expects the Gordon Brown government to offer financial aid to the luxury car maker.
To be set up at Staffordshire, near Wolverhampton, the facility will manufacture a family of low emission 4-cylinderJLR petrol and diesel engines.
The company said over 80 per cent Range Rover Evoque production was exported to 170 countries across the globe.
Around 8 out of every 10 cars manufactured in the UK is now exported, bound for one of 160 markets worldwide
Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country's second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24). While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.
Tata-owned Jaguar Land Rover plans to generate 4,500 manufacturing and engineering jobs in London over next five years, JLR executive director Mike Wright has said.
Supply chain workers called the strike over a pay dispute.
The UK government today approved a grant of pound 27 million to Tata Group-owned Jaguar Land Rover
Responding to a question on whether Tata-owned JLR was in talks with the UK government for a bailout package, Mandelson said it was too early to judge whether the state would be willing to help Jaguar Land Rover, which employs around 15,000 workers.
Businesses have been reluctant to talk about contingency plans for Brexit
Tata Motors' UK-based subsidiary, Jaguar Land Rover or JLR, reported a muted operational performance in the December quarter of financial year 2021-22 (Q3FY22). The luxury carmaker saw a 33 per cent year-on-year (YoY) decline in wholesale volumes to just under 70,000 units in Q3, against estimates that were 16 per cent higher. The drop in despatches to dealers was on account of shortage in semiconductors.
Tata Motors Ltd, which has just emerged as the number two passenger vehicles company in the country, said on Friday
The latest additions will bring the total number of UK manufacturing jobs announced by JLR over the last three years to almost 11,000.
The London Commercial court has granted Tata Sons a period of 23 days, starting July 27th 2016, to apply to set aside the exparte order
The Indica, known to Europeans as City Rover, was rolled out in November 2003 but did not succeed in the market where consumers are very choosy about the vehicles they buy.
The UK's 697 projects created a 1.4 per cent rise in foreign direct investment jobs to 30,311.
Fraught four-month-long negotiation between Tata Motors-owned Jaguar Land Rover and the United Kingdom government over a loan guarantee ended in an anti-climax on Tuesday, with the Mumbai-headquartered automobile maker announcing that it has secured loans from commercial banks and would not need any support from the UK government.
The report says Tata Motors, JLR's new owners, will produce 200-300 less cars by the end of the year. That would be equal to about a week's worth of production for the Jaguar models of XJ and XK.
Tata's comments come a little over two weeks after JLR management and its workers agreed to a two-year pay freeze, subject to no compulsory layoffs for the next two years. This is also the first time the Tata chairman has made a direct public appeal to the UK government for credit support.
Tata has recently developed the Pixel city car, which the company is targeting at European drivers.
Prime Minister Narendra Modi on Friday said bilateral cooperation in defence manufacturing would be the "prime focus" of his visit to the United Kingdom.
Meetings to break the deadlock have been planned.
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