"With our manufacturing capacity nearing saturation, this acquisition is timely and a win-win for all stakeholders," Tata Motors said in a statement. Ford had less than 2% of the Indian passenger vehicle market when it stopped production in the country last year, having struggled for more than two decades to generate profits.
Jaguar Land Rover has opened a new testing centre to ensure its latest breed of power-hungry electric cars don’t disrupt TV screens and smartphones.
Tata Motors Ltd expects strong demand to drive up sales of its cars, including at the luxury Jaguar Land Rover (JLR) unit, as the semiconductor shortage eases, even as it posted a wider quarterly loss on higher costs. JLR took a hit mainly because of supply chain disruption, a slower-than-expected production ramp up of its New Range Rover and Range Rover Sport models and COVID-19-related lockdowns in China, chief financial officer, P B Balaji said. As chip shortages ease, he expects to sell 90,000 JLR vehicles on a wholesale basis in the current quarter - higher than in the last five quarters, including the June quarter when it sold 72,000 units, down 15% from a year ago.