Archive for 'Tata Motors'
Tata looking for Ratan Tata’s successor
Tata said it is looking for a successor to 71-year old chairman Ratan Tata. The company said that it is considering local and foreign candidates to head the group that includes Tata Motors, Tata Steel, Tata Consultancy Services and Tata Power among its 27 listed companies.
“We are in the process of formalising a successor to me,” [...]
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Ghosn: Nissan’s Tata Nano competitor on track for 2011
Renault and Nissan’s CEO Carlos Ghosn is still betting big on the ultra low-cost car segment and reaffirmed that the group will have a Tata Nano competitor, in a partnership with Bajaj Auto, by 2011. Speaking at the India Economic Summit, Ghosn said that the compact car is still a goal not only in India, [...]
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GM executive Carl-Peter Forster may join Tata Motors
According to sources close to the matter, Carl-Peter Forster, who is leaving General Motors of Europe, may join Tata Motors. Forster’s decision to leave GM came after the Detroit automaker unexpectedly decided to keep Opel instead of selling majority share to Magna International. Forster had strongly advocated a sale to Magna and Russia’s Sberbank.
Sources say [...]
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Tata may let others assemble Nano and sell it as their own
According to a report by the Business Standard, Tata Motors may let other local car assemblers build its Nano and sell it as their own brand. Vice Chairman Ravi Kant said that Tata is considering allowing assemblers to set up a micro-assembly sites across the country to produce about 10,000 Nanos a year.
“We call it [...]
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Tata to increase Nano output by 20%
Tata Motors is planning to increase production of its Nano minicar, a senior official told reporters Monday.
“In the last three months, we have been averaging about 2,500 Nano’s per month,” said Rajiv Dube, head of the company’s passenger car business. ”We are gearing up for a higher number and we are ramping up our production capacity [...]
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Tata raises $750 million to pay down Jaguar, Land Rover debt
Tata Motors, owner of Jaguar and Land Rover, said that it has raised $750 million by issuing global depositary receipts and convertible bonds to pay down debt. The debt was taken on for its acquisition of loss-making Jaguar and Land Rover, which it bought from FoMoCo last year.
Tata had a consolidated debt of around 240 billion [...]
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Tata says it will close a Land Rover or Jaguar factory next year
Tata Motors said today that it will close one of the three Jaguar/Land Rover assembly plants in England by 2014 in an effort to move the two brands to profitability. Tata said that it will close either a factory in Castle Bromwich, which makes Jaguars, or its plant in Solihull, which makes Land Rovers.
The company [...]
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Britain gives Tata $16.2 million to produce Indica Vista EV
Tata has won a $16.2 million loan from the UK government to manufacture electric-vehicles in the country. The loan was awarded to Tata under Great Britain’s automotive assistance program.
Tata said that it will invest a total of $40.6 million to produce an electric-version of the four-seater Indica Vista in the UK.
“The government is determined to [...]
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Tata secures private loan for Jaguar/Land Rover, doesn’t need Britain’s help
A UK government spokesperson said today that Tata Motors has secured a 175 million pound ($289 million) private sector loan for Jaguar Land Rover and no longer needs financial support from Britain. The Department of Business, Enterprise and Regulatory Reform has been holding talks with Tata and Jaguar Land Rover on guaranteeing both short and long-term [...]
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Pininfarina family to sell 50.7% stake in coachbuilder
According to company sources, family owners of coachbuilder Pininfarina have hired Italy’s Banca Leonardo to sell their majority stake in the company. Pincar, the Pininfarina family company, will sell its 50.7 percent stake in the company as a part of a debt agreement made with banks at the end of 2008.
“It is a commitment Pincar made with the [...]
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