Tata Motors on Monday signed a memorandum of understanding (MoU) with ride-hailing platform Uber to induct 25,000 XPRES-T electric vehicles into its premium category service in India. The collaboration represents the largest EV partnership yet between an automaker and a ridesharing platform in the country. In July 2021, Tata Motors launched the ‘XPRES’ brand exclusively … Read more
Tata Motors (TML) does a start-up kind of fund raising and announces $1 bn of investments from TPG and ADQ (of Abu Dhabi) in it’s EV business. Key points to note – The investment values the EV business at $9.1 bn post money. Funds will come in two tranches – 50% by March 2022 and … Read more
Last year i.e., 2020, at its annual general meeting, Tata Motors had announced its aim to become a debt free company within the next three years. Timelines seems to have shifted by a year. However, given Covid related disruptions, it’s still acceptable. For reference, the Company reported a Gross debt of Rs 1,50,211 crore and … Read more
Putting at rest all speculation around a partnership with Tesla, Tata Sons chairman N Chandrasekaran said on Wednesday that there is “no dialogue” with the Elon Musk-owned car company for a partnership in India, while adding, “We will do it on our own.” “There is no dialogue with Tesla. With us, there is nothing,” Chandrasekaran … Read more