logo
  

Tata Motors Board Approves Subsidiarization Of Passenger Vehicle Business

Tata Motors Ltd. (TTM) said its Board has in-principle approved to subsidiarize the company's Passenger Vehicles business (including Electric Vehicles) by transferring relevant assets, IPs and employees directly relatable to the Passenger Vehicles business. This shall be implemented through a scheme of arrangement, the company said. Tata Motors expects the transfer process to be completed in the next one year.

Tata Motors also announced the appointment of Shailesh Chandra, President EV and Corporate Strategy as President Passenger Vehicles business including EV with effect from April 1, 2020. He will be assuming responsibility for the business from Mayank Pareek. Mayank will be retiring from Tata Motors by end of April 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
While reporting financial results for the second quarter on Wednesday, off-price retailer TJX Companies, Inc. (TJX) provided financial outlook for the third and the fourth quarters as well as slashed its guidance for the full-year 2023. For the third quarter, the company projects earnings in a range... American Airlines announced an agreement to purchase up to 20 Overture supersonic jets, the world's fastest airliner, from transportation start-up Boom Supersonic, with an option for an additional 40. Overture, which is expected to carry passengers at twice the speed of the fastest commercial aircraft available at present, would provide an important new speed advantage to American's fleet. WhatsApp, an instant messaging app owned by Meta Platforms, has launched a new desktop app for Windows users. The company is also developing an app native to Mac operating systems. Till now, WhatsApp Desktop users have been using its web-based desktop app i.e., WhatsApp Desktop, or browser-based app, i.e., WhatsApp Web. They were using the old Electron technology.
Follow RTT