Localisation of components used in manufacture of electric vehicles (EVs) is required for attractive price propositions along with investments in infrastructure to drive the demand of electric cars, Tata Motors CEO & MD Guenter Butschek said on Thursday. Speaking at the launch of its new solution for electric vehicles called Ziptron, Butschek said steps had been taken by the Indian government to push for electrification of Indian automobile segment.

JLR’s wholesale volumes declined 7.1% y-o-y (-5.2% m-o-m) to 39.6k units (our estimate: ~43k) in Aug’19, whereas China JV volumes were down 14% y-o-y to 4.7k units.

– Jaguar volumes declined ~29% y-o-y to ~10k units (our estimate: 12.7k), whereas JLR volumes grew ~3.8% y-o-y to 29.5k units (our estimate: 30k units).

Tata Motors on Wednesday reported a 32 per cent decline in global sales, including that of Jaguar Land Rover, to 72,464 units in August.

It had sold 1,07,030 units in August last year.

Tata Motors is going for a second block closure in this month at its Pune plant from where it rolls out passenger cars and commercial vehicles. The company will have a four-day block closure from August 28 to 31. The company had a three-day block closure on August 3.

Tata Motors had earlier indicated that the external environment remains challenging, leading to demand contraction and they have aligned production to actual demand and adjusted the number of shifts and contractual manpower.

The Jamshedpur unit of Tata Motors will go for a third closure this month from today as the slowdown in the automotive sector shows no signs of abating.

Tata Motors earlier went for a day closure on August 1, followed by three block closure from August 8-10. Though the closure from August 16 will reportedly be for two days, it may last for four days.

PUNE: With the automobile industry slipping into a gorge with no visible sign of revival in the near future, Tata Motors, India’s top automaker by revenue, and Mahindra and Mahindra (M&M), the country’s largest utility vehicle maker, have decided to cut production at some of their plants.

India’a largest commercial vehicle and leading carmaker, Tata Motors Ltd (TML), has internally announced a block closure for three days starting today, 8 August, at its production plants in Pimpri (Pune) and Jamshedpur. Mint also learns that Tata Motors’ luxury car unit, Jaguar Land Rover (JLR), is also observing the block closure for three days starting today, in an attempt to cut down the volumes of locally assembled models.

Rating agency Icra on Monday downgraded non-convertible debenture programme, long-term loans, long-term fund-based facilities and long-term non-fund-based facilities to (Icra) AA- (negative) from (Icra) AA (negative).

While short-term debt programme, commercial paper programme and short-term non-fund-based facilities have been reaffirmed at (Icra) A1+. Data from Bloomberg showed that, total debt of Tata Motors stood at `1.06 lakh crore as on March 2019.

Tata Power and Tata Motors on Friday forged a partnership to install 300 fast charging stations by the end of this financial year in five key cities — Mumbai, Delhi, Pune, Bengaluru, and Hyderabad. The move will help in accelerating faster adoption to electric vehicles (EVs) in a market where an almost non-existent charging infrastructure has been one of the biggest deterrents.

Tata Motors on Tuesday said its shareholders have approved appointment of N Chandrasekaran as director on the company’s board. He is chairman of Tata Motors. In a regulatory filing, the company also said Nasser Munjee, Vinesh Kumar Jairath and Falguni Nayar have ceased as independent directors upon completion of their terms.

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