Leading automobile company Tata Motors on Friday said it has become the first Indian company producing 1 lakh (100,000) commercial vehicles in a financial year.
The legislation revokes the original lease agreement signed between Tata Motors, the country's biggest automobile maker, and the West Bengal Industrial Development Corporation.
Tata Motors is banking on revotron engine to tap the petrol passenger car segment with three modes of drive.
Many say Tata Motors has perhaps paid the price for being too ambitious.
The sharp fall in commercial vehicle (CV) sales has forced automobile giant Tata Motors to again shut its Pune plant for six days this month. The CV plant will be out of action from December 5 to 7 and again from December 26 to 28.
JLR's product pipeline and margin uptick will ensure good revenue and profit growth.
Life Insurance Corporation of India (LIC), the country's biggest insurer, said it did not participate in Tata Motors' Rs 4,145-crore rights issue as the shares continued to trade below the offer price till the last day of the subscription today. The move resulted in the issue devolving on the promoters and the underwriter, JM Financial.
A sharp fall in the equity market made investors poorer by Rs 5.29 lakh crore on Tuesday when the BSE benchmark Sensex tumbled over 800 points. A host of negative triggers -- muted quarterly earnings, continuous foreign fund outflows and weak trends in Asian and European markets -- dragged the benchmark indices lower. The BSE benchmark gauge tumbled 820.97 points or 1.03 per cent to settle at 78,675.18.
The company on Tuesday challenged before the court the RTI commissioner's competence to deal with the matter, with its counsel submitting before Justice Dipankar Dutta that the Right to Information Act was not applicable in case of an agreement involving industrial secrets. Justice Dutta has scheduled the matter for hearing on Friday.
Tata Motors is likely to team up with its Italian partner Fiat to develop products jointly.
Sales of commercial vehicles declined 24.51 per cent in June to 31,384 units from 41,577 units a year ago.
Car-maker sends another strongly-worded letter on vendor park.
Mahindra & Mahindra on Saturday said it has decided to rename its new electric vehicle brand as 'BE 6' but noted that it will continue to contest strongly in court with InterGlobe Aviation for the trademark 'BE 6e'. InterGlobe Aviation, which owns IndiGo airlines, has taken the automaker to court over the usage of 6E in its new EV brand.
Tata Motors was allotted 1,000 acres of prime agriculture land at the Pantnagar industrial estate in the hope that the company would set up its dream Nano project in Uttarakhand. It has now agreed in principle to allot 50 acres more to the auto giant. Tata Motors is seeking 100 acres for housing purposes. Meanwhile, suspense continues over the Nano project being shifted to the hill state.
The 56-year-old German quit the Mumbai-based company after 18 months on the job, citing personal reasons.
However, the company has not provided a timeline for the launch of the small electric car.
Billionaire Mukesh Ambani's Reliance Industries Ltd has spent $13 billion on acquisitions in the past five years across new energy, telecom, retail and media business to script a pivot away from core oil and petrochemicals business to clean energy and consumer facing verticals. Last week, Reliance bought oncology platform Karkinos Healthcare for Rs 375 crore, adding another stack to its diagnostic and digital healthcare ecosystem, Morgan Stanley said in a report.
With swanky showrooms and VR-enabled sales platforms Maruti Suzuki, Tata Motors, and Skoda bet on shine and gloss,and place their faith in experiential branding.
Even as Tata Motors is racing against time to get its new Singur plant near Kolkata ready for commercial roll-out of the Nano by October 2008, the company may need an out-of-the-box solution to overcome some delays in the integrated plant and component park structure proposed for the vehicle.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Cyrus Mistry said more focus was needed for improvement in key areas such as vehicle technology.
Tata Motors will soon submit a detailed report on the upcoming manufacturing plant in Tamil Nadu's Ranipet district and a decision, on whether the facility will churn out passenger or commercial vehicles, will be taken by the company on the basis of market trends, state's industries minister TRB Rajaa said on Thursday. "They are keeping the options open, and market trends will determine it (the type of vehicles the plant will make). "They will quickly come up with a detailed report on that," Rajaa said.
Don't be surprised if you see cars from the two manufacturer in a foreign land. The carmakers are supplying their vehicle in over 11 countries.
Having introduced common rail direct injection engine in its Indigo XL sedan, Tata Motors has decided to introduce the technology in all diesel models of its Indigo and Indica cars within next 4 to 6 months.
Tata Motors-owned Jaguar Land Rover reported 25 per cent increase in its global sales in November this year at 37,403 units.
The world's cheapest car, the Nano, may still roll out from Singur with Tata Motors today expressing hope that the West Bengal government's new rehabilitation package will evoke a positive response from unwilling land-losers who had refused compensation.
The company will market this new range in petrol engines under the Revotron brand.
Tata Motors, India's biggest auto maker, on Monday said it had successfully tested vehicles running on compressed air on two of its products.
Slym doesn't face such an epic challenge - after all, his company is profitable, has a trustworthy brand, deep pockets and a vast distribution.
'We will have multiple engine options -- electric vehicle and internal combustion engine in diesel and petrol.'
Tata Motors, part of the $100 billion Tata conglomerate, said consolidated net profit for the April-June quarter rose to 53.98 billion rupees ($882.31 million) compared with Rs 17.68 billion a year ago.
Marcopolo has got four manufacturing facilities in Brazil and one each in Portugal, Argentina, Mexico, Colombia and South Africa. India will be its tenth production base.
The company had sold 51,160 vehicles in the same month last year.
The JV company, Tata Motors (Thailand) Ltd was formed between the two in December 2006. Tata Motors holds 70 per cent stake and Thonburi the balance 30 per cent.
"The toughest part was continuing to believe that we could do it," Tata told journalists covering the Auto Expo in New Delhi, where he unveiled the lowest-priced car in the world. He added that "a promise is a promise", hinting at the ability of his company to deliver even in the face of brutal scepticism.
Tata Motors revealed its plans of introducing more vehicles this year. It is also planning to increase its exports to South Africa.
As part of a 50:50 joint venture agreement signed in 2007, the two companies had agreed to a joint distribution network and back-end support, besides co-manufacturing of products at the Ranjangaon facility near Pune.
Tata Motors said on Thursday production at its car plant in Pune may get affected following a fire at its paint shop. There was no casualty.
It was late last year when Tata Motors announced that it would set up the first plant for producing the Rs 1-lakh car at Gujarat's Sanand rather than Karnataka's Dharwad, among other places.
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