The new 323,000 sq. ft. facility at JLR’s Whitley Engineering Centre in Coventry will host more than GBP 40 million of technological innovations to enable the rapid testing of EVs, including electric test rigs, Electric Drive Unit (EDU) manufacturing and electric vehicle systems test cells, the company said.
The British automaker, a wholly-owned subsidiary of Tata Motors since 2008, aims to transform into a modern luxury vehicle business over the coming years. The automaker plans to become a net zero carbon business by 2039. On sales growth prospects, Amba noted that the automaker remains bullish on growth prospects this fiscal after having reported its best ever sales performance in the April-June quarter.
The vehicle offers a choice of powertrains, including a 2.0-liter P250 petrol engine producing 246.61 bhp and 365 Nm of torque, with a top speed of 217 kmph and 0-100 kmph acceleration in 7.5 seconds, the company said.
As a part of the new partnership, TCS will deliver services spanning application development & maintenance, enterprise infrastructure management, cloud migration, cybersecurity and data services.
Japanese automotive giant Toyota has recalled around 1,68,000 recently manufactured vehicles in the US over a potential fire risk. The recall involves certain 2022 and 2023 model-year Toyota Tundra and Tundra Hybrid vehicles.
With shareholders quizzing Chandrasekaran on Tata Motors’ equity capital reduction move at the annual general meeting (AGM) on Tuesday, the chairman said that it is being done with the objective of fairness for both kinds of shareholders (ordinary and DVR). He added that Tata Sons (promoter) approved the move on the basis of what is good for the company and in the interest of shareholders.
The auto major said it has a strong pipeline of new launches for the passenger car business and Jaguar Land Rover (JLR), and feels quite confident to have a strong FY24. It is extremely well positioned "to not only continue to capture growth but gain market share." Starting with the updated Nexon, it will bring a total of four EVs by early next year. While the automaker has no plans to venture into hybrid vehicles, it is working on hydrogen technology for CVs.
Adrian Mardell has been appointed as Chief Executive Officer (CEO) of Jaguar Land Rover (JLR), extending up to a term of three years. The company also appointed Richard Molyneux as the CFO. Tata Motors had announced its plans to build a USD 5.2 billion electric car battery factory in the U.K. which is expected to become one of Europe's largest battery cell manufacturing sites.
In April this year, JLR Chief Executive Adrian Mardell told reporters at a media event that the Tata Group is clear the new Gigafactory is going to be in Europe. Spain was believed to be the other site under consideration at the time.
Tata Motors, India's leading automaker, has surpassed Kia Corporation's market capitalization, becoming the world's 16th most valuable automaker. The company's market worth is USD 27.15 billion, trailing just behind Hyundai Motor. Tata Motors' Jaguar Land Rover unit has reported a 30% YoY growth in worldwide wholesale shipments in the current fiscal year's June quarter.
Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Q1 FY24 were at 88,456 units, lower by 15%, over Q1 FY23, the company said.
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