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Oct 7 (Reuters) - Jaguar Land Rover has unveiled its new Jaguar Type 01 electric car, with an ultra-long bonnet, no rear window and a wealth of technology, in New York as it targets the potential for growth in the US market.
The UK-based luxury carmaker, which is owned by India's Tata Motors TATM.NS, said the Type 01, an electric four-door GT car, in subtle, muted shades, with a starting price of $130,500, marks the "beginning of a new generation of Jaguar vehicles and a transformative new era".
The high price tag represents a gamble in the US, where enthusiasm for EVs has been lower than in Europe.
JLR, however, plans to sharpen its focus on its US customer base as Europe's automotive industry, particularly electric vehicles, has been pressured by competitively priced Chinese cars, tariff costs and disruptions from the US-Israeli war on Iran.
The Type 01's design harks back to the 1960s E-type Jaguar sports cars that have been treasured by collectors and follows on from the 2024 unveiling of the Jaguar Type 00 radical concept car in bright pink as part of the auto maker's brand relaunch.
The Type 00 and relaunch drew criticism from car enthusiasts and some politicians.
JLR is also seeking to recover from a cyberattack that halted production and disrupted suppliers last year. As part of a turnaround plan, it announced last month it would reduce nearly 10% of its workforce through voluntary redundancies over the next two years.
As part of the shakeup, it has committed to shifting its entire lineup to EVs, even though some industry executives have said they are unconvinced that wealthy car buyers want to go electric.
Earlier this year Ferrari’s first attempt at an EV was heavily criticised because it looks nothing like the Italian luxury automaker’s petrol models.
Last month Bentley unveiled its first EV, which will be priced at the bottom end of its range.
Lamborghini has ruled out an EV before the end of the decade and McLaren said last month it had no plans to go electric because customers have shown no interest in moving on from their petrol-engine models.
(Reporting by Simone Lobo in Bengaluru; editing by Barbara Lewis)
(([email protected], +919920570373))
Oct 7 (Reuters) - Jaguar Land Rover has unveiled its new Jaguar Type 01 electric car, with an ultra-long bonnet, no rear window and a wealth of technology, in New York as it targets the potential for growth in the US market.
The UK-based luxury carmaker, which is owned by India's Tata Motors TATM.NS, said the Type 01, an electric four-door GT car, in subtle, muted shades, with a starting price of $130,500, marks the "beginning of a new generation of Jaguar vehicles and a transformative new era".
The high price tag represents a gamble in the US, where enthusiasm for EVs has been lower than in Europe.
JLR, however, plans to sharpen its focus on its US customer base as Europe's automotive industry, particularly electric vehicles, has been pressured by competitively priced Chinese cars, tariff costs and disruptions from the US-Israeli war on Iran.
The Type 01's design harks back to the 1960s E-type Jaguar sports cars that have been treasured by collectors and follows on from the 2024 unveiling of the Jaguar Type 00 radical concept car in bright pink as part of the auto maker's brand relaunch.
The Type 00 and relaunch drew criticism from car enthusiasts and some politicians.
JLR is also seeking to recover from a cyberattack that halted production and disrupted suppliers last year. As part of a turnaround plan, it announced last month it would reduce nearly 10% of its workforce through voluntary redundancies over the next two years.
As part of the shakeup, it has committed to shifting its entire lineup to EVs, even though some industry executives have said they are unconvinced that wealthy car buyers want to go electric.
Earlier this year Ferrari’s first attempt at an EV was heavily criticised because it looks nothing like the Italian luxury automaker’s petrol models.
Last month Bentley unveiled its first EV, which will be priced at the bottom end of its range.
Lamborghini has ruled out an EV before the end of the decade and McLaren said last month it had no plans to go electric because customers have shown no interest in moving on from their petrol-engine models.
(Reporting by Simone Lobo in Bengaluru; editing by Barbara Lewis)
(([email protected], +919920570373))
By Jayshree P Upadhyay
MUMBAI, Oct 6 (Reuters) - Four trustees of the Tata charities that control the group have accused two fellow trustees of breaking with their long-held opposition to listing Tata Sons, two sources familiar with a letter sent on Monday said, deepening a dispute at the top of the $277 billion Tata empire.
Tata Sons, the holding company of 26 publicly listed Tata Group companies, is at the centre of a dispute with Tata Trusts, which owns 66% of the company.
In the letter to trustees Venu Srinivasan and Vijay Singh, Noel Tata, his son Neville Tata, senior lawyer Darius Khambata and longtime Tata executive Bhaskar Bhat said exploring ways to keep Tata Sons unlisted was consistent with positions previously approved by the seven charitable trusts that control the company, the sources, who read out contents of the letter to Reuters, said.
The letter was dated October 5, they added. The sources declined to be named as the contents of the letter are not public.
Srinivasan and Singh did not immediately respond to text messages seeking comment. A spokesperson for Tata Trusts did not respond to an email seeking comments.
The authors of the letter have argued the issue of keeping Tata Sons unlisted had been debated and endorsed on multiple occasions and said a recent proposal to restructure Tata Sons was being considered after India's central bank rejected the conglomerate's request for an exemption from rules that would require it to list, the two sources said.
"They also said that trust was not interfering in the affairs of Sons and only voicing opinions on company's listing as controlling shareholders," one of the two sources said.
Reuters reported last week that fault lines had emerged among trustees over proposals that could allow Tata Sons to avoid a stock market listing, while separate complaints have also raised broader governance concerns within the trusts.
(Reporting by Jayshree P Upadhyay; Editing by Nivedita Bhattacharjee)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
By Jayshree P Upadhyay
MUMBAI, Oct 6 (Reuters) - Four trustees of the Tata charities that control the group have accused two fellow trustees of breaking with their long-held opposition to listing Tata Sons, two sources familiar with a letter sent on Monday said, deepening a dispute at the top of the $277 billion Tata empire.
Tata Sons, the holding company of 26 publicly listed Tata Group companies, is at the centre of a dispute with Tata Trusts, which owns 66% of the company.
In the letter to trustees Venu Srinivasan and Vijay Singh, Noel Tata, his son Neville Tata, senior lawyer Darius Khambata and longtime Tata executive Bhaskar Bhat said exploring ways to keep Tata Sons unlisted was consistent with positions previously approved by the seven charitable trusts that control the company, the sources, who read out contents of the letter to Reuters, said.
The letter was dated October 5, they added. The sources declined to be named as the contents of the letter are not public.
Srinivasan and Singh did not immediately respond to text messages seeking comment. A spokesperson for Tata Trusts did not respond to an email seeking comments.
The authors of the letter have argued the issue of keeping Tata Sons unlisted had been debated and endorsed on multiple occasions and said a recent proposal to restructure Tata Sons was being considered after India's central bank rejected the conglomerate's request for an exemption from rules that would require it to list, the two sources said.
"They also said that trust was not interfering in the affairs of Sons and only voicing opinions on company's listing as controlling shareholders," one of the two sources said.
Reuters reported last week that fault lines had emerged among trustees over proposals that could allow Tata Sons to avoid a stock market listing, while separate complaints have also raised broader governance concerns within the trusts.
(Reporting by Jayshree P Upadhyay; Editing by Nivedita Bhattacharjee)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
Honda aims to cut more than $9 billion in costs over four years
Deal with Indian partner follows differing opinions between India, Japan over suppliers, sources say
First model under deal to be sub-4-metre SUV for launch in 2028
Honda's market share in India fell to 1.3% from peak of 7.3%
By Aditi Shah and Maki Shiraki
MUMBAI/TOKYO, Oct 5 (Reuters) - Honda Motor 7267.T aims to cut costs by as much as a fifth and halve development times under its new partnership in India with Tata Technologies TATE.NS, according to two people familiar with the matter, as pressure from rivals forces the Japanese automaker to rethink its go-it-alone approach.
Reeling from electric vehicle (EV)-related losses that it expects to reach more than $12 billion, Honda is pivoting to gasoline-electric hybrids and slashing expenses. Last month, Reuters reported that it is seeking to cut more than $9 billion in costs over the next four years and has told suppliers to drastically reduce prices.
In May, engineering firm Tata Technologies said it was selected to develop vehicles for a Japanese automaker. It declined to name the partner, but the two people and another person familiar with the matter said it was Honda.
Under the outsourcing agreement, Tata Technologies will develop cars for the Indian market, while Honda expects to see up to 20% in cost reductions and halve its development times from around five years at present, two people said.
Honda decided to bring in Tata Technologies after the automaker's Japanese and Indian managers failed to agree on which suppliers to use for upcoming vehicles in India, two of the people said.
All three sources declined to be identified because the information has not been made public. The cost-cutting and development targets in India, as well as the internal deadlock over supplier strategy, are being reported for the first time.
In a statement, Honda said it has not been able to offer a sufficient product line-up in India that allows customers "value for money." To that end, it was "redefining" its offerings in India and planned to introduce vehicles that strike a balance between quality and price, it said.
It denied there were disagreements between the Japanese and Indian teams over supplier selection.
In a separate statement, Honda India said product development involved close collaboration between different teams, adding that it was inaccurate to characterise collaborative discussions as disagreements.
Tata Technologies did not respond to a request for comment.
STRATEGY DEADLOCK
Japanese managers wanted to retain established suppliers to ensure quality and consistency, while Honda's team in India pushed for greater use of local suppliers to lower costs and speed up development in the world's third-largest car market, two of the people said.
Reuters could not determine how long the deadlock lasted but the disagreement was enough to delay work on some products, the two people said. The partnership had been under discussion for about two years before being finalised, one of them added.
Tata Technologies, which was spun off from Indian automaker Tata Motors TAMO.NS, was chosen because of its access to a broad network of local suppliers and because Honda managers believed it could design vehicles in line with consumer tastes and spending preferences, the person said.
Honda will oversee the process to ensure quality standards are met and will retain control over areas like technology, connectivity and driver-assistance systems, the person added.
FAMOUS INDEPENDENCE
Honda has long carried the imprint of its famously independent late founder, Soichiro Honda. It developed two of the world's best-selling cars, the Civic and the Accord, along with the most popular motorcycle of all time, the Super Cub.
Like other Japanese automakers, Honda faces the difficult balancing act of defending its legacy business in places like the US while developing new technologies to compete with Chinese firms elsewhere. India, a fast-growing market that remains closed to Chinese EV makers, has become more important.
But Honda's market share there has slumped to 1.3% from a peak of 7.3% more than a decade ago. Its portfolio has shrunk to four models and it is losing to affordable, feature-packed rivals like Tata Motors and Mahindra MAHM.NS. It also has little to offer in the biggest and fastest-growing SUV segment.
"Honda is already late and behind competitors," one of the people said.
Honda President Toshihiro Mibe is under pressure to turn around the automaker, which recorded its first-ever annual loss in the last financial year.
In May, Mibe said that while India was a "key focus" for Honda, the automaker had not always been successful there.
"We need to rebuild the business on an entirely different footing," he said.
Previously, Honda adapted for India cars that were originally designed for Japan or other global markets. That resulted in it offering vehicles that were seen as over-engineered and pricey.
The first vehicle under development with Tata Technologies is a small SUV that is less than 4 metres (13.1 feet) in length, a segment that accounts for a large portion of India's car market and where Honda has limited presence. It is targeted for launch in 2028, two of the people said.
A second, mid-size SUV is expected to follow, with Honda later trying to revive its strength in sedans, one of them added.
In its statement, Honda said it planned to launch vehicles in India in the sub-4-metre category and the larger midsize category from 2028 onwards.
India is Honda's only major emerging market and it wants to make manufacturing and sourcing there more competitive.
If the first product under the deal is successful in terms of quality, sales and profitability, it will open opportunities for Honda to export from India, one of the people said.
(Reporting by Aditi Shah and Maki Shiraki; Additional reporting by Daniel Leussink; Editing by David Dolan and Thomas Derpinghaus)
(([email protected];))
Honda aims to cut more than $9 billion in costs over four years
Deal with Indian partner follows differing opinions between India, Japan over suppliers, sources say
First model under deal to be sub-4-metre SUV for launch in 2028
Honda's market share in India fell to 1.3% from peak of 7.3%
By Aditi Shah and Maki Shiraki
MUMBAI/TOKYO, Oct 5 (Reuters) - Honda Motor 7267.T aims to cut costs by as much as a fifth and halve development times under its new partnership in India with Tata Technologies TATE.NS, according to two people familiar with the matter, as pressure from rivals forces the Japanese automaker to rethink its go-it-alone approach.
Reeling from electric vehicle (EV)-related losses that it expects to reach more than $12 billion, Honda is pivoting to gasoline-electric hybrids and slashing expenses. Last month, Reuters reported that it is seeking to cut more than $9 billion in costs over the next four years and has told suppliers to drastically reduce prices.
In May, engineering firm Tata Technologies said it was selected to develop vehicles for a Japanese automaker. It declined to name the partner, but the two people and another person familiar with the matter said it was Honda.
Under the outsourcing agreement, Tata Technologies will develop cars for the Indian market, while Honda expects to see up to 20% in cost reductions and halve its development times from around five years at present, two people said.
Honda decided to bring in Tata Technologies after the automaker's Japanese and Indian managers failed to agree on which suppliers to use for upcoming vehicles in India, two of the people said.
All three sources declined to be identified because the information has not been made public. The cost-cutting and development targets in India, as well as the internal deadlock over supplier strategy, are being reported for the first time.
In a statement, Honda said it has not been able to offer a sufficient product line-up in India that allows customers "value for money." To that end, it was "redefining" its offerings in India and planned to introduce vehicles that strike a balance between quality and price, it said.
It denied there were disagreements between the Japanese and Indian teams over supplier selection.
In a separate statement, Honda India said product development involved close collaboration between different teams, adding that it was inaccurate to characterise collaborative discussions as disagreements.
Tata Technologies did not respond to a request for comment.
STRATEGY DEADLOCK
Japanese managers wanted to retain established suppliers to ensure quality and consistency, while Honda's team in India pushed for greater use of local suppliers to lower costs and speed up development in the world's third-largest car market, two of the people said.
Reuters could not determine how long the deadlock lasted but the disagreement was enough to delay work on some products, the two people said. The partnership had been under discussion for about two years before being finalised, one of them added.
Tata Technologies, which was spun off from Indian automaker Tata Motors TAMO.NS, was chosen because of its access to a broad network of local suppliers and because Honda managers believed it could design vehicles in line with consumer tastes and spending preferences, the person said.
Honda will oversee the process to ensure quality standards are met and will retain control over areas like technology, connectivity and driver-assistance systems, the person added.
FAMOUS INDEPENDENCE
Honda has long carried the imprint of its famously independent late founder, Soichiro Honda. It developed two of the world's best-selling cars, the Civic and the Accord, along with the most popular motorcycle of all time, the Super Cub.
Like other Japanese automakers, Honda faces the difficult balancing act of defending its legacy business in places like the US while developing new technologies to compete with Chinese firms elsewhere. India, a fast-growing market that remains closed to Chinese EV makers, has become more important.
But Honda's market share there has slumped to 1.3% from a peak of 7.3% more than a decade ago. Its portfolio has shrunk to four models and it is losing to affordable, feature-packed rivals like Tata Motors and Mahindra MAHM.NS. It also has little to offer in the biggest and fastest-growing SUV segment.
"Honda is already late and behind competitors," one of the people said.
Honda President Toshihiro Mibe is under pressure to turn around the automaker, which recorded its first-ever annual loss in the last financial year.
In May, Mibe said that while India was a "key focus" for Honda, the automaker had not always been successful there.
"We need to rebuild the business on an entirely different footing," he said.
Previously, Honda adapted for India cars that were originally designed for Japan or other global markets. That resulted in it offering vehicles that were seen as over-engineered and pricey.
The first vehicle under development with Tata Technologies is a small SUV that is less than 4 metres (13.1 feet) in length, a segment that accounts for a large portion of India's car market and where Honda has limited presence. It is targeted for launch in 2028, two of the people said.
A second, mid-size SUV is expected to follow, with Honda later trying to revive its strength in sedans, one of them added.
In its statement, Honda said it planned to launch vehicles in India in the sub-4-metre category and the larger midsize category from 2028 onwards.
India is Honda's only major emerging market and it wants to make manufacturing and sourcing there more competitive.
If the first product under the deal is successful in terms of quality, sales and profitability, it will open opportunities for Honda to export from India, one of the people said.
(Reporting by Aditi Shah and Maki Shiraki; Additional reporting by Daniel Leussink; Editing by David Dolan and Thomas Derpinghaus)
(([email protected];))
- Chery Automobile entered a partnership with Jaguar Land Rover to develop and scale the FREELANDER premium brand for international markets.
- Collaboration pairs Jaguar Land Rover design with Chery technology, supply chain, manufacturing, and global operating capabilities.
- FREELANDER set the Middle East as an initial launch region, establishing UAE dealer ties with Al Tayer Motors and Premier Motors.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Chery Automobile Co. Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610030959PRIMZONEFULLFEED9839081) on October 03, 2026, and is solely responsible for the information contained therein.
- Chery Automobile entered a partnership with Jaguar Land Rover to develop and scale the FREELANDER premium brand for international markets.
- Collaboration pairs Jaguar Land Rover design with Chery technology, supply chain, manufacturing, and global operating capabilities.
- FREELANDER set the Middle East as an initial launch region, establishing UAE dealer ties with Al Tayer Motors and Premier Motors.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Chery Automobile Co. Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610030959PRIMZONEFULLFEED9839081) on October 03, 2026, and is solely responsible for the information contained therein.
Adds graphics
By Kashish Tandon and Aishwarya Jain
Oct 1 (Reuters) - India's weakest monsoon in over a decade dented rural spending in September and weighed on tractor sales, data showed on Thursday, while urban demand supported sales of passenger vehicles.
The June-September monsoon, which delivers nearly 70% of India's annual rainfall, was 12.6% below normal this year, fuelling concerns over crop yields, rural demand and food inflation in Asia's No.3 economy.
Mahindra & Mahindra MAHM.NS, India's largest tractor maker, reported a 21% drop in tractor sales during the month, while smaller rival Escorts Kubota ESCO.NS posted a 16.7% decline.
Performance was dented by a patchy monsoon and relatively lower monsoon crop sowing, Escorts Kubota said.
"Lower farm incomes and, as a result, rising rural indebtedness hurt purchasing power and demand for consumer goods and services, while supply shortages can push up food prices and stoke inflationary pressures," said Rohit Azad, an economics professor at Delhi's Jawaharlal Nehru University.
The slowdown mirrors a broader pullback in farm spending.
Last week, agriculture company Rallis India RALL.NS said farmers were reducing purchases of pesticides, fertilisers and seeds to conserve cash after the weak monsoon and poorer harvests.
Kranthi Bathini, director of equity strategy at WealthMills Securities, highlighted how uneven rainfall and drought-like conditions in parts of India had hurt the agrarian economy.
"That weakness is visible in segments closely tied to rural demand, such as two-wheelers and tractors," Bathini said.
Bajaj Auto's BAJA.NS domestic two-wheeler sales also declined 12% in September.
The delayed start of the festive season further weighed on sales. Festivals begin in October this year, compared with September last year, when they boosted demand for vehicles and other big-ticket purchases.
Passenger vehicle sales, however, remained strong on urban demand.
Hyundai Motor India HYUN.NS posted record monthly sales, while Maruti Suzuki MRTI.NS, Tata Motors Passenger Vehicle TAMO.NS and Mahindra & Mahindra reported double-digit growth.
(Reporting by Saikeerthi and Aishwarya Jain in Bengaluru; Editing by Sherry Jacob-Phillips, Nivedita Bhattacharjee, Dhanya Skariachan and Harikrishnan Nair)
Adds graphics
By Kashish Tandon and Aishwarya Jain
Oct 1 (Reuters) - India's weakest monsoon in over a decade dented rural spending in September and weighed on tractor sales, data showed on Thursday, while urban demand supported sales of passenger vehicles.
The June-September monsoon, which delivers nearly 70% of India's annual rainfall, was 12.6% below normal this year, fuelling concerns over crop yields, rural demand and food inflation in Asia's No.3 economy.
Mahindra & Mahindra MAHM.NS, India's largest tractor maker, reported a 21% drop in tractor sales during the month, while smaller rival Escorts Kubota ESCO.NS posted a 16.7% decline.
Performance was dented by a patchy monsoon and relatively lower monsoon crop sowing, Escorts Kubota said.
"Lower farm incomes and, as a result, rising rural indebtedness hurt purchasing power and demand for consumer goods and services, while supply shortages can push up food prices and stoke inflationary pressures," said Rohit Azad, an economics professor at Delhi's Jawaharlal Nehru University.
The slowdown mirrors a broader pullback in farm spending.
Last week, agriculture company Rallis India RALL.NS said farmers were reducing purchases of pesticides, fertilisers and seeds to conserve cash after the weak monsoon and poorer harvests.
Kranthi Bathini, director of equity strategy at WealthMills Securities, highlighted how uneven rainfall and drought-like conditions in parts of India had hurt the agrarian economy.
"That weakness is visible in segments closely tied to rural demand, such as two-wheelers and tractors," Bathini said.
Bajaj Auto's BAJA.NS domestic two-wheeler sales also declined 12% in September.
The delayed start of the festive season further weighed on sales. Festivals begin in October this year, compared with September last year, when they boosted demand for vehicles and other big-ticket purchases.
Passenger vehicle sales, however, remained strong on urban demand.
Hyundai Motor India HYUN.NS posted record monthly sales, while Maruti Suzuki MRTI.NS, Tata Motors Passenger Vehicle TAMO.NS and Mahindra & Mahindra reported double-digit growth.
(Reporting by Saikeerthi and Aishwarya Jain in Bengaluru; Editing by Sherry Jacob-Phillips, Nivedita Bhattacharjee, Dhanya Skariachan and Harikrishnan Nair)
Sept 29 (Reuters) - A potential Tata Sons listing and leadership transition at the Tata Group would not immediately affect ratings on its operating companies, ratings agency S&P Global said on Tuesday, adding that any changes to the conglomerate's financial policies are likely to be gradual.
(Reporting by Kashish Tandon in Bengaluru; Editing by Ronojoy Mazumdar)
(([email protected]; 8800437922;))
Sept 29 (Reuters) - A potential Tata Sons listing and leadership transition at the Tata Group would not immediately affect ratings on its operating companies, ratings agency S&P Global said on Tuesday, adding that any changes to the conglomerate's financial policies are likely to be gradual.
(Reporting by Kashish Tandon in Bengaluru; Editing by Ronojoy Mazumdar)
(([email protected]; 8800437922;))
Automakers aim to take advantage of defence spending boom
Car companies are leveraging existing pickups, SUVs and supply chains for military tenders
Plant sales to defence groups may prove more practical than repurposing assembly lines
By Nick Carey, Gilles Guillaume and Kalea Hall
LONDON/PARIS/DETROIT, Sept 28 (Reuters) - Western automakers are chasing a defence spending boom as a way to sell more vehicles and make use of underemployed factories, though executives say military work will not make up for slowing car sales and growing Chinese competition.
Automakers including Ford F.N, General Motors GM.N and Jaguar Land Rover are bidding for military contracts using modified versions of pickup trucks and off-road vehicles they already produce, while others are selling underused plants to defence manufacturers expanding capacity.
The industry is tapping into rising Western defence spending, but executives and analysts told Reuters the opportunities to materially boost revenue remain limited.
"In reality all of these opportunities will have very little financial impact," said Jefferies auto analyst Vanessa Jeffriess, adding that automakers face slowing demand and intensifying competition from Chinese rivals, putting them under pressure to at least show investors they are trying to diversify.
GM, the biggest US automaker, expects its defence division to generate revenue of $700 million this year and grow by 30% annually for several years. But that would put revenue at about $1.5 billion in 2029, less than 1% of group revenue of $185 billion in 2025.
Traditional US and European automakers are losing market share in China to home-grown rivals like BYD 002594.SZ and Geely GEELY.UL, while Chinese brands are expanding rapidly into Europe and emerging markets to offset weak domestic demand, squeezing profit margins and leaving Western manufacturers with excess capacity.
Most major automakers ditched military contracts decades ago, but as governments from Europe to North America ramp up military spending, defence has emerged as one of the few growth sectors for the industry.
ALREADY PRODUCING AT SCALE
Analysts see the most realistic opportunities in assets that automakers already have.
Ford's European head Jim Baumbick said providing the military with vehicles fits with the company's existing strengths of providing "tough vehicles with high payloads".
Ford, GM and Britain's JLR are among companies bidding for a £900 million ($1.2 billion) UK Ministry of Defence vehicle contract, initially for 3,000 vehicles, using modified versions of trucks and off-road vehicles they already make.
Ford is bidding with its Ranger pickup truck, while two models in GM's bid are retrofitted Chevrolet Silverado pickup trucks which will be modified for UK military use. JLR, a unit of India's Tata Motors TAMO.NS, is bidding with its off-road Defender model, and all are betting that decades of engineering, manufacturing scale and global supply chains can give them the edge over specialist defence firms.
"They're such capable trucks from the beginning, that's not a heavy lift," said Gilbert Nelson, GM Defense's vice president for international sales and marketing, referring to the modifications required for military use.
JLR North America CEO and former head of the Defender brand Mark Cameron said the automaker has also had discussions "with lots of countries across Europe... and further afield" about similar tenders due in the next 12 to 18 months.
Cameron said using a vehicle JLR already makes at scale was "strategically valuable" though the company was not dependent on it.
FINDING BUYERS FOR FACTORIES
Another attractive proposition for the auto industry is being able to offload surplus manufacturing capacity to companies looking to expand production in defence without the cost of building from scratch.
Italy's Stellantis STLAM.MI is planning to sell an idled Canadian factory to armoured-vehicle maker Roshel while earlier this month Germany's Volkswagen VOWG_p.DE agreed to sell its Osnabrueck plant to Israel's Aurelius Capital and the German state of Lower Saxony for a project with Rafael Advanced Defense Systems.
Analysts said factory disposals rather than diversifying production are one of the clearest benefits from the defence boom.
"There's been a lot of talk," about diversifying into defence production, said Ian Henry, director of consultancy AutoAnalysis. "But there's not been a lot of concrete action."
Suppliers could also emerge as bigger beneficiaries of rising defence spending. Unlike vehicle assembly plants, their smaller and more flexible production lines can often be adapted to military programmes with limited investment.
"Car assembly lines are just not geared for making components," because they are too large, AutoAnalysis' Henry said.
For suppliers, the defence industry "drives growth, which the automotive market does not," Christophe Perillat, CEO of French supplier Valeo VLOF.PA said in July, adding that military contracts also offered higher profit margins than traditional automotive business.
French supplier Forvia FRVIA.PA is using its existing production capacity to explore military opportunities, CFO Olivier Durand said.
"The industrial investment required is very low... so it's quite an attractive prospect," he said.
Forvia also recently signed a deal to transfer a factory in Germany and 300 staff to defence firm General Dynamics GD.N.
CORE BUSINESS REMAINS VEHICLES
Some automakers are pushing further into defence in the US and France. Renault RENA.PA plans to produce 1,000 military drones per month starting next year with French defence technology firm Thales TCFP.PA, though executives acknowledge the scale is small compared with its automotive operations.
Oddo BHF auto analyst Michael Foundoukidis said Renault makes about 10,000 vehicles a day.
JLR, which makes over 100,000 Defenders a year, is avoiding branching out and competing with specialist companies. JLR's Cameron said automakers would face formidable competition in unfamiliar sectors.
"Our core business is vehicles," he said. "We don't want to stray into any offshoots."
($1 = 0.7413 pounds)
(Reporting Nick Carey, Gilles Guillaume and Kalea Hall;Editing by Elaine Hardcastle)
(([email protected];))
Automakers aim to take advantage of defence spending boom
Car companies are leveraging existing pickups, SUVs and supply chains for military tenders
Plant sales to defence groups may prove more practical than repurposing assembly lines
By Nick Carey, Gilles Guillaume and Kalea Hall
LONDON/PARIS/DETROIT, Sept 28 (Reuters) - Western automakers are chasing a defence spending boom as a way to sell more vehicles and make use of underemployed factories, though executives say military work will not make up for slowing car sales and growing Chinese competition.
Automakers including Ford F.N, General Motors GM.N and Jaguar Land Rover are bidding for military contracts using modified versions of pickup trucks and off-road vehicles they already produce, while others are selling underused plants to defence manufacturers expanding capacity.
The industry is tapping into rising Western defence spending, but executives and analysts told Reuters the opportunities to materially boost revenue remain limited.
"In reality all of these opportunities will have very little financial impact," said Jefferies auto analyst Vanessa Jeffriess, adding that automakers face slowing demand and intensifying competition from Chinese rivals, putting them under pressure to at least show investors they are trying to diversify.
GM, the biggest US automaker, expects its defence division to generate revenue of $700 million this year and grow by 30% annually for several years. But that would put revenue at about $1.5 billion in 2029, less than 1% of group revenue of $185 billion in 2025.
Traditional US and European automakers are losing market share in China to home-grown rivals like BYD 002594.SZ and Geely GEELY.UL, while Chinese brands are expanding rapidly into Europe and emerging markets to offset weak domestic demand, squeezing profit margins and leaving Western manufacturers with excess capacity.
Most major automakers ditched military contracts decades ago, but as governments from Europe to North America ramp up military spending, defence has emerged as one of the few growth sectors for the industry.
ALREADY PRODUCING AT SCALE
Analysts see the most realistic opportunities in assets that automakers already have.
Ford's European head Jim Baumbick said providing the military with vehicles fits with the company's existing strengths of providing "tough vehicles with high payloads".
Ford, GM and Britain's JLR are among companies bidding for a £900 million ($1.2 billion) UK Ministry of Defence vehicle contract, initially for 3,000 vehicles, using modified versions of trucks and off-road vehicles they already make.
Ford is bidding with its Ranger pickup truck, while two models in GM's bid are retrofitted Chevrolet Silverado pickup trucks which will be modified for UK military use. JLR, a unit of India's Tata Motors TAMO.NS, is bidding with its off-road Defender model, and all are betting that decades of engineering, manufacturing scale and global supply chains can give them the edge over specialist defence firms.
"They're such capable trucks from the beginning, that's not a heavy lift," said Gilbert Nelson, GM Defense's vice president for international sales and marketing, referring to the modifications required for military use.
JLR North America CEO and former head of the Defender brand Mark Cameron said the automaker has also had discussions "with lots of countries across Europe... and further afield" about similar tenders due in the next 12 to 18 months.
Cameron said using a vehicle JLR already makes at scale was "strategically valuable" though the company was not dependent on it.
FINDING BUYERS FOR FACTORIES
Another attractive proposition for the auto industry is being able to offload surplus manufacturing capacity to companies looking to expand production in defence without the cost of building from scratch.
Italy's Stellantis STLAM.MI is planning to sell an idled Canadian factory to armoured-vehicle maker Roshel while earlier this month Germany's Volkswagen VOWG_p.DE agreed to sell its Osnabrueck plant to Israel's Aurelius Capital and the German state of Lower Saxony for a project with Rafael Advanced Defense Systems.
Analysts said factory disposals rather than diversifying production are one of the clearest benefits from the defence boom.
"There's been a lot of talk," about diversifying into defence production, said Ian Henry, director of consultancy AutoAnalysis. "But there's not been a lot of concrete action."
Suppliers could also emerge as bigger beneficiaries of rising defence spending. Unlike vehicle assembly plants, their smaller and more flexible production lines can often be adapted to military programmes with limited investment.
"Car assembly lines are just not geared for making components," because they are too large, AutoAnalysis' Henry said.
For suppliers, the defence industry "drives growth, which the automotive market does not," Christophe Perillat, CEO of French supplier Valeo VLOF.PA said in July, adding that military contracts also offered higher profit margins than traditional automotive business.
French supplier Forvia FRVIA.PA is using its existing production capacity to explore military opportunities, CFO Olivier Durand said.
"The industrial investment required is very low... so it's quite an attractive prospect," he said.
Forvia also recently signed a deal to transfer a factory in Germany and 300 staff to defence firm General Dynamics GD.N.
CORE BUSINESS REMAINS VEHICLES
Some automakers are pushing further into defence in the US and France. Renault RENA.PA plans to produce 1,000 military drones per month starting next year with French defence technology firm Thales TCFP.PA, though executives acknowledge the scale is small compared with its automotive operations.
Oddo BHF auto analyst Michael Foundoukidis said Renault makes about 10,000 vehicles a day.
JLR, which makes over 100,000 Defenders a year, is avoiding branching out and competing with specialist companies. JLR's Cameron said automakers would face formidable competition in unfamiliar sectors.
"Our core business is vehicles," he said. "We don't want to stray into any offshoots."
($1 = 0.7413 pounds)
(Reporting Nick Carey, Gilles Guillaume and Kalea Hall;Editing by Elaine Hardcastle)
(([email protected];))
By Jayshree P Upadhyay and Arpan Chaturvedi
MUMBAI, Sept 18 (Reuters) - India's Tata Group, which owns Jaguar Land Rover and Air India, is facing its worst crisis in years, pitting the board of its holding company against its controlling charity arm and raising questions about the future of the 158-year-old conglomerate.
Here is an explainer on the complex dispute that has embroiled the salt-to-aviation group, which has annual revenues of over $180 billion.
WHAT IS THE TUSSLE ABOUT?
Tata Sons and its controlling charity arm, Tata Trusts, have been at odds for months over issues including a potential listing of Tata Sons, Air India's mounting losses and a planned exit of a minority shareholder.
The board of Tata Sons, the group's holding company, reappointed Natarajan Chandrasekaran as its chairman for another five years on Thursday, despite opposition from the head of Tata Trusts.
After the decision, Tata Trusts publicly protested against Chandrasekaran's reappointment, calling it in breach of internal rules, and also opposing any stock market listing of Tata Sons, warning it would "destroy" the character of a group majority-owned by charities.
WHO RUNS POWERFUL TATA TRUSTS AND WHAT'S THE HISTORY?
Tata Trusts owns 66% of Tata Sons, and is led by Noel Tata, a member of the conglomerate's founding family.
Dividends received from the operating companies flow through the Trusts into public charity.
The Tatas are Parsis, descendants of Zoroastrians who fled Persia and are believed to have settled in western India from around the eighth century.
Chandrasekaran is not from the Tata family but joined the group in 1987.
IF TRUSTS ARE SO POWERFUL, WHY CAN'T THEY ASSERT THEIR DEMANDS?
The Tata Trusts have problems of their own that are currently blunting their control over the conglomerate.
The Trusts are an umbrella of affiliated charities, and one of the two biggest - Sir Ratan Tata Trust - alone owns 23.6% of Tata Sons. A charity regulator has barred that trust from convening its trustees in a dispute over how they were appointed, leaving it unable to take decisions.
On the face of it, the charity arm's 66% stake would let it override almost any decision of Tata Sons. But the regulatory bar means it cannot hold a meeting, and so cannot push its agenda for now.
HOW BIG IS THE TATA GROUP AND WHO ARE ITS CLIENTS?
Tata Group was founded in 1868 and operates in more than 100 countries across six continents.
Tata Sons controls more than 30 Tata companies including IT services firm Tata Consultancy Services TCS.NS, Tata Motors TAMO.NS and one of the world's oldest steelmakers, Tata Steel TISC.NS. It counts Apple AAPL.O and Tesla TSLA.O among its clients, and Starbucks as its partner.
Tata companies generated combined revenue of $185 billion in the last financial year. Its 26 listed companies had a combined market capitalisation of $277 billion as of March 31, 2026, Tata's website says.
Each of these businesses runs with an independent board and management.
WHAT IS THE CHARITY ARM'S VIEW AND DISCONNECT WITH THE TATA SONS BOARD?
Tata Trusts has argued that a chairman's appointment and any decision on listing at Tata Sons required the vote of both Trusts nominees on the board - Noel Tata and Venu Srinivasan, the other key player in the saga.
Noel Tata disagreed with the chairman's reappointment, but Srinivasan did not - showing divisions within Trusts nominees.
Noel Tata is arguing the reappointment is illegal as the two trustee votes diverged. The Tata Sons view is there is nothing wrong as the reappointment was done through a majority vote.
WHY IS A PUBLIC LISTING SUCH A BIG STICKING POINT?
The dispute comes days after the Reserve Bank of India rejected Tata Sons' request for an exemption from rules that would require it to list.
The Tata Sons board is agreeable to a stock market listing, it decided during Thursday's board meeting, but Noel Tata is not.
In a statement late on Thursday, Tata Trusts said the holding company must explore alternatives, arguing the Tata operating structure was unique as its majority shareholder is a charity, and a "listing will destroy its character and strike at the heart of this principle."
Shapoorji Pallonji Group, the second-largest shareholder in Tata Sons, backed a potential listing of the holding company. The group is headed by Shapoor Mistry, whose sister is married to Noel Tata.
WHAT HAPPENS NOW?
Legal experts say Tata Trusts can approach a court to seek overturning the reappointment of the Tata Sons chairman and the board's decision to consider a stock market listing, despite the opposition of the majority shareholder.
Tata Trusts could also use an upcoming annual general meeting of Tata Sons in December to block Chandrasekaran's reappointment, but they first need to resolve their internal disputes.
(Editing by Aditya Kalra and Raju Gopalakrishnan)
(([email protected]; +91-9833024892;))
By Jayshree P Upadhyay and Arpan Chaturvedi
MUMBAI, Sept 18 (Reuters) - India's Tata Group, which owns Jaguar Land Rover and Air India, is facing its worst crisis in years, pitting the board of its holding company against its controlling charity arm and raising questions about the future of the 158-year-old conglomerate.
Here is an explainer on the complex dispute that has embroiled the salt-to-aviation group, which has annual revenues of over $180 billion.
WHAT IS THE TUSSLE ABOUT?
Tata Sons and its controlling charity arm, Tata Trusts, have been at odds for months over issues including a potential listing of Tata Sons, Air India's mounting losses and a planned exit of a minority shareholder.
The board of Tata Sons, the group's holding company, reappointed Natarajan Chandrasekaran as its chairman for another five years on Thursday, despite opposition from the head of Tata Trusts.
After the decision, Tata Trusts publicly protested against Chandrasekaran's reappointment, calling it in breach of internal rules, and also opposing any stock market listing of Tata Sons, warning it would "destroy" the character of a group majority-owned by charities.
WHO RUNS POWERFUL TATA TRUSTS AND WHAT'S THE HISTORY?
Tata Trusts owns 66% of Tata Sons, and is led by Noel Tata, a member of the conglomerate's founding family.
Dividends received from the operating companies flow through the Trusts into public charity.
The Tatas are Parsis, descendants of Zoroastrians who fled Persia and are believed to have settled in western India from around the eighth century.
Chandrasekaran is not from the Tata family but joined the group in 1987.
IF TRUSTS ARE SO POWERFUL, WHY CAN'T THEY ASSERT THEIR DEMANDS?
The Tata Trusts have problems of their own that are currently blunting their control over the conglomerate.
The Trusts are an umbrella of affiliated charities, and one of the two biggest - Sir Ratan Tata Trust - alone owns 23.6% of Tata Sons. A charity regulator has barred that trust from convening its trustees in a dispute over how they were appointed, leaving it unable to take decisions.
On the face of it, the charity arm's 66% stake would let it override almost any decision of Tata Sons. But the regulatory bar means it cannot hold a meeting, and so cannot push its agenda for now.
HOW BIG IS THE TATA GROUP AND WHO ARE ITS CLIENTS?
Tata Group was founded in 1868 and operates in more than 100 countries across six continents.
Tata Sons controls more than 30 Tata companies including IT services firm Tata Consultancy Services TCS.NS, Tata Motors TAMO.NS and one of the world's oldest steelmakers, Tata Steel TISC.NS. It counts Apple AAPL.O and Tesla TSLA.O among its clients, and Starbucks as its partner.
Tata companies generated combined revenue of $185 billion in the last financial year. Its 26 listed companies had a combined market capitalisation of $277 billion as of March 31, 2026, Tata's website says.
Each of these businesses runs with an independent board and management.
WHAT IS THE CHARITY ARM'S VIEW AND DISCONNECT WITH THE TATA SONS BOARD?
Tata Trusts has argued that a chairman's appointment and any decision on listing at Tata Sons required the vote of both Trusts nominees on the board - Noel Tata and Venu Srinivasan, the other key player in the saga.
Noel Tata disagreed with the chairman's reappointment, but Srinivasan did not - showing divisions within Trusts nominees.
Noel Tata is arguing the reappointment is illegal as the two trustee votes diverged. The Tata Sons view is there is nothing wrong as the reappointment was done through a majority vote.
WHY IS A PUBLIC LISTING SUCH A BIG STICKING POINT?
The dispute comes days after the Reserve Bank of India rejected Tata Sons' request for an exemption from rules that would require it to list.
The Tata Sons board is agreeable to a stock market listing, it decided during Thursday's board meeting, but Noel Tata is not.
In a statement late on Thursday, Tata Trusts said the holding company must explore alternatives, arguing the Tata operating structure was unique as its majority shareholder is a charity, and a "listing will destroy its character and strike at the heart of this principle."
Shapoorji Pallonji Group, the second-largest shareholder in Tata Sons, backed a potential listing of the holding company. The group is headed by Shapoor Mistry, whose sister is married to Noel Tata.
WHAT HAPPENS NOW?
Legal experts say Tata Trusts can approach a court to seek overturning the reappointment of the Tata Sons chairman and the board's decision to consider a stock market listing, despite the opposition of the majority shareholder.
Tata Trusts could also use an upcoming annual general meeting of Tata Sons in December to block Chandrasekaran's reappointment, but they first need to resolve their internal disputes.
(Editing by Aditya Kalra and Raju Gopalakrishnan)
(([email protected]; +91-9833024892;))
Sept 17 (Reuters) - India's Tata Trusts said on Thursday it has not agreed to the listing of Tata Sons and asked the conglomerate's holding company to explore all available options other than a public listing.
Earlier in the day, Reuters reported that the board of Tata Sons said it would consider a listing, after the Reserve Bank of India rejected its request for an exemption from rules requiring it to list.
(Reporting by Nishit Navin; Editing by Shilpi Majumdar)
(([email protected];))
Sept 17 (Reuters) - India's Tata Trusts said on Thursday it has not agreed to the listing of Tata Sons and asked the conglomerate's holding company to explore all available options other than a public listing.
Earlier in the day, Reuters reported that the board of Tata Sons said it would consider a listing, after the Reserve Bank of India rejected its request for an exemption from rules requiring it to list.
(Reporting by Nishit Navin; Editing by Shilpi Majumdar)
(([email protected];))
Sept 16 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
The Times
KPMG said it will cut about 200 more UK-based consultant roles in the coming weeks, as too few employees were leaving voluntarily.
Mike Ashley’s Frasers Group FRAS.L is facing investor oppositionafter its finance chief Chris Wootton received a £100,000 ($134,730.00) bonus for securing £3 billion ($4.04 billion) in financing.
The Guardian
The Bank of England is poised to halt its sales of long-term government bonds which have been hit by a global sell-off in debt markets.
Infrastructure and construction firm Kier Group KIE.L said it will pause housebuilding and shift its focus to road and hospital projects to strengthen its balance sheet.
The Telegraph
UK chancellor John Healey is in talks with the Canadian government about joining the proposed Canada-led defence, security and resilience bank (DSRB), which could help the UK fund defence projects at a lower cost.
Jaguar Land Rover TAMO.NS is in talks with NATO countries to sell the Defender military vehicles, as the UK-based carmaker aims to capitalise on Europe’s defence spending boom.
Sky News
University of Glasgow spinout, Chemify which uses robots and AI to discover new medicines has secured £22 million ($29.65 million) in grants from Scottish Enterprise and the UK government.
($1 = 0.7422 pounds)
($1 = 0.7420 pounds)
(Compiled by Bengaluru newsroom)
Sept 16 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
The Times
KPMG said it will cut about 200 more UK-based consultant roles in the coming weeks, as too few employees were leaving voluntarily.
Mike Ashley’s Frasers Group FRAS.L is facing investor oppositionafter its finance chief Chris Wootton received a £100,000 ($134,730.00) bonus for securing £3 billion ($4.04 billion) in financing.
The Guardian
The Bank of England is poised to halt its sales of long-term government bonds which have been hit by a global sell-off in debt markets.
Infrastructure and construction firm Kier Group KIE.L said it will pause housebuilding and shift its focus to road and hospital projects to strengthen its balance sheet.
The Telegraph
UK chancellor John Healey is in talks with the Canadian government about joining the proposed Canada-led defence, security and resilience bank (DSRB), which could help the UK fund defence projects at a lower cost.
Jaguar Land Rover TAMO.NS is in talks with NATO countries to sell the Defender military vehicles, as the UK-based carmaker aims to capitalise on Europe’s defence spending boom.
Sky News
University of Glasgow spinout, Chemify which uses robots and AI to discover new medicines has secured £22 million ($29.65 million) in grants from Scottish Enterprise and the UK government.
($1 = 0.7422 pounds)
($1 = 0.7420 pounds)
(Compiled by Bengaluru newsroom)
Corrects media packaging code
Sept 15 (Reuters) - Shares of several Tata Group companies jumped on Tuesday after India's central bank rejected Tata Sons' application to deregister as a non-bank lender, reviving prospects of a stock market listing for the holding firm.
Tata Chemicals TTCH.NS was up 20%, while Tata Motors Passenger Vehicles TAMO.NS rose 5%. Tata Investment TINV.NS jumped up 10%.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Sonia Cheema)
(([email protected];))
Corrects media packaging code
Sept 15 (Reuters) - Shares of several Tata Group companies jumped on Tuesday after India's central bank rejected Tata Sons' application to deregister as a non-bank lender, reviving prospects of a stock market listing for the holding firm.
Tata Chemicals TTCH.NS was up 20%, while Tata Motors Passenger Vehicles TAMO.NS rose 5%. Tata Investment TINV.NS jumped up 10%.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Sonia Cheema)
(([email protected];))
Move follows suspension of local manufacturing plans for three models
New entry model price targeted below $12,000 - sources
VinFast looping in suppliers early to optimise costs - sources
India key growth market after struggle to scale in U.S., Europe
By Aditi Shah and Phuong Nguyen
NEW DELHI/HANOI, Sept 10 (Reuters) - Vietnamese automaker VinFast VFS.O plans to develop two new electric vehicles for the Indian market, five sources told Reuters, in a strategic shift made just weeks after it suspended plans to manufacture some of its global models there.
The move marks a departure from VinFast's earlier attempt to adapt existing vehicles for India - a market the money-losing carmaker sees as a chance for growth after it struggled to reach scale in the United States and Europe.
It has pledged to invest $2 billion in India, where it opened its first factory outside Vietnam last year. It wants to build the operation into a regional manufacturing base serving South Asia, the Middle East and Africa.
VinFast has begun initial discussions with suppliers in India for the two new models, internally codenamed VF X and VF Y, but talks are at an early stage, two of the sources said.
The sources, all of whom declined to be identified as the discussions are private, said plans for the car are still being evaluated and could change.
A VinFast spokesperson declined to comment, saying that information about new products would be announced at "the appropriate time".
HIGH COSTS PROMPTED STRATEGY SHIFT
VinFast in July suspended plans to manufacture three of its current global models, the VF 3, VF 6 and VF 7, in India after it determined it would not be able to bring costs down enough to sell at the prices it had targeted, Reuters reported last week.
The automaker currently sells two models in India - the VF 6 and VF 7 - which are imported as kits from Vietnam and assembled at its India factory. VinFast has said it plans to continue with assembly of the two models.
In August, VinFast executives flew in from Vietnam to meet about 200 Indian suppliers to discuss the company's plans for the world's third-largest car market, two of the sources said.
VinFast has chosen to involve Indian suppliers from the outset to iron out pricing and costs early in the development process and avoid a repeat of the same issues, one of the sources said.
The automaker wants to create a compact, affordable model smaller than its current VF 6 crossover SUV but a little bigger than its two-door SUV, VF 3, so it meets local consumer preferences for a spacious vehicle, the source said.
It is still refining the design, this person said, adding that one challenge was striking a balance between the vehicle's size and its cost.
VinFast is targeting the VF X as an entry-level offering for India and wants to price it below $12,000, two of the sources said. That is roughly what it charges for the VF 3 in Vietnam, one of its more affordable models there. In India, plans to locally manufacture the same VF 3 were among those paused.
Meanwhile, the VF 6 currently sold in India is priced at about $19,000 for the base model, and the VF 7 starts at $24,250.
VINFAST IS BETTING BIG ON INDIA
A car priced less than $12,000 will put VinFast in one of the biggest EV segments dominated by Indian automaker Tata Motors TAMO.NS but will also be the hardest to crack.
EV sales in India have been on the rise since the Iran war as gasoline prices increased. Electric models currently make up over 7% of total car sales and the government wants to grow this to 30% by 2030.
Instead of doing everything from scratch, VinFast wants to work with components and tools already available with suppliers in the country to build a new product for India, said a sixth source aware of the company's local plans.
Backed by Vietnam's largest conglomerate Vingroup VIC.HM, VinFast started selling cars in India in September 2025 and has so far retailed about 10,000 vehicles. It has broader ambitions in India, including in real estate, education and healthcare.
Its assembly plant has an initial production capacity of 50,000 cars a year and is scalable to 150,000. VinFast said it has received investment approval for the plant's second phase expansion.
(Reporting by Aditi Shah in New Delhi and Phuong Nguyen in Hanoi, additional reporting by Praveen Pramasivam in Chennai; Editing by David Dolan and Kim Coghill)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
Move follows suspension of local manufacturing plans for three models
New entry model price targeted below $12,000 - sources
VinFast looping in suppliers early to optimise costs - sources
India key growth market after struggle to scale in U.S., Europe
By Aditi Shah and Phuong Nguyen
NEW DELHI/HANOI, Sept 10 (Reuters) - Vietnamese automaker VinFast VFS.O plans to develop two new electric vehicles for the Indian market, five sources told Reuters, in a strategic shift made just weeks after it suspended plans to manufacture some of its global models there.
The move marks a departure from VinFast's earlier attempt to adapt existing vehicles for India - a market the money-losing carmaker sees as a chance for growth after it struggled to reach scale in the United States and Europe.
It has pledged to invest $2 billion in India, where it opened its first factory outside Vietnam last year. It wants to build the operation into a regional manufacturing base serving South Asia, the Middle East and Africa.
VinFast has begun initial discussions with suppliers in India for the two new models, internally codenamed VF X and VF Y, but talks are at an early stage, two of the sources said.
The sources, all of whom declined to be identified as the discussions are private, said plans for the car are still being evaluated and could change.
A VinFast spokesperson declined to comment, saying that information about new products would be announced at "the appropriate time".
HIGH COSTS PROMPTED STRATEGY SHIFT
VinFast in July suspended plans to manufacture three of its current global models, the VF 3, VF 6 and VF 7, in India after it determined it would not be able to bring costs down enough to sell at the prices it had targeted, Reuters reported last week.
The automaker currently sells two models in India - the VF 6 and VF 7 - which are imported as kits from Vietnam and assembled at its India factory. VinFast has said it plans to continue with assembly of the two models.
In August, VinFast executives flew in from Vietnam to meet about 200 Indian suppliers to discuss the company's plans for the world's third-largest car market, two of the sources said.
VinFast has chosen to involve Indian suppliers from the outset to iron out pricing and costs early in the development process and avoid a repeat of the same issues, one of the sources said.
The automaker wants to create a compact, affordable model smaller than its current VF 6 crossover SUV but a little bigger than its two-door SUV, VF 3, so it meets local consumer preferences for a spacious vehicle, the source said.
It is still refining the design, this person said, adding that one challenge was striking a balance between the vehicle's size and its cost.
VinFast is targeting the VF X as an entry-level offering for India and wants to price it below $12,000, two of the sources said. That is roughly what it charges for the VF 3 in Vietnam, one of its more affordable models there. In India, plans to locally manufacture the same VF 3 were among those paused.
Meanwhile, the VF 6 currently sold in India is priced at about $19,000 for the base model, and the VF 7 starts at $24,250.
VINFAST IS BETTING BIG ON INDIA
A car priced less than $12,000 will put VinFast in one of the biggest EV segments dominated by Indian automaker Tata Motors TAMO.NS but will also be the hardest to crack.
EV sales in India have been on the rise since the Iran war as gasoline prices increased. Electric models currently make up over 7% of total car sales and the government wants to grow this to 30% by 2030.
Instead of doing everything from scratch, VinFast wants to work with components and tools already available with suppliers in the country to build a new product for India, said a sixth source aware of the company's local plans.
Backed by Vietnam's largest conglomerate Vingroup VIC.HM, VinFast started selling cars in India in September 2025 and has so far retailed about 10,000 vehicles. It has broader ambitions in India, including in real estate, education and healthcare.
Its assembly plant has an initial production capacity of 50,000 cars a year and is scalable to 150,000. VinFast said it has received investment approval for the plant's second phase expansion.
(Reporting by Aditi Shah in New Delhi and Phuong Nguyen in Hanoi, additional reporting by Praveen Pramasivam in Chennai; Editing by David Dolan and Kim Coghill)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
Tata Motors Passenger Vehicles scheduled physical group meetings with analysts and institutional investors for September 11, 2026, at noon and 4pm. The listed participants included Helios Capital Management, Enam Investment & Services, Invesco Mutual Fund, SBI Pension Fund and Nippon India Mutual Fund. The company held a similar physical group meeting with 38 institutions on September 2. Its August 2026 sales totalled 67,753 vehicles, including 65,253 domestic passenger vehicles and 16,549 electric vehicles.
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Tata Motors Passenger Vehicles scheduled physical group meetings with analysts and institutional investors for September 11, 2026, at noon and 4pm. The listed participants included Helios Capital Management, Enam Investment & Services, Invesco Mutual Fund, SBI Pension Fund and Nippon India Mutual Fund. The company held a similar physical group meeting with 38 institutions on September 2. Its August 2026 sales totalled 67,753 vehicles, including 65,253 domestic passenger vehicles and 16,549 electric vehicles.
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JLR, the wholly owned subsidiary of Tata Motors Passenger Vehicles, said it would reduce its global workforce by about 4,000 roles over the next two years as part of a strategic transformation programme. The company said the reductions were not expected to affect direct manufacturing jobs and would be achieved through voluntary means wherever possible, with consultation on the first round beginning immediately. The programme formed part of JLR's Growth Reimagined strategy announced on 19 June, which targeted approximately £1.7 billion of savings over two years and break-even at about 300,000 units, alongside a commitment to invest £15-18 billion over five years. JLR employed 43,000 people globally and accounted for about 81% of Tata Motors Passenger Vehicles' FY26 consolidated revenue of roughly ₹3,35,600 crore.
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JLR, the wholly owned subsidiary of Tata Motors Passenger Vehicles, said it would reduce its global workforce by about 4,000 roles over the next two years as part of a strategic transformation programme. The company said the reductions were not expected to affect direct manufacturing jobs and would be achieved through voluntary means wherever possible, with consultation on the first round beginning immediately. The programme formed part of JLR's Growth Reimagined strategy announced on 19 June, which targeted approximately £1.7 billion of savings over two years and break-even at about 300,000 units, alongside a commitment to invest £15-18 billion over five years. JLR employed 43,000 people globally and accounted for about 81% of Tata Motors Passenger Vehicles' FY26 consolidated revenue of roughly ₹3,35,600 crore.
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Sept 7 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
JLR UPDATE ON STRATEGIC TRANSFORMATION PROGRAMME
JLR WILL REDUCE ITS GLOBAL WORKFORCE BY AROUND 4,000 ROLES OVER THE NEXT TWO YEARS
JLR HEADCOUNT REDUCTION IS NOT EXPECTED TO IMPACT DIRECT MANUFACTURING JOBS
JLR IS TARGETING APPROXIMATELY £1.7 BLN OF SAVINGS OVER NEXT TWO YEARS
JLR TARGETS £1.7 BLN SAVINGS OVER NEXT TWO YEARS
PROGRAM WILL REDUCE ORGANISATIONAL COMPLEXITY, AND UNDERPIN COMMITMENT TO INVEST BETWEEN £15-18 BLN IN ELECTRIFICATION
Further company coverage: TAMO.NS
(([email protected];;))
Sept 7 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
JLR UPDATE ON STRATEGIC TRANSFORMATION PROGRAMME
JLR WILL REDUCE ITS GLOBAL WORKFORCE BY AROUND 4,000 ROLES OVER THE NEXT TWO YEARS
JLR HEADCOUNT REDUCTION IS NOT EXPECTED TO IMPACT DIRECT MANUFACTURING JOBS
JLR IS TARGETING APPROXIMATELY £1.7 BLN OF SAVINGS OVER NEXT TWO YEARS
JLR TARGETS £1.7 BLN SAVINGS OVER NEXT TWO YEARS
PROGRAM WILL REDUCE ORGANISATIONAL COMPLEXITY, AND UNDERPIN COMMITMENT TO INVEST BETWEEN £15-18 BLN IN ELECTRIFICATION
Further company coverage: TAMO.NS
(([email protected];;))
LONDON, Sept 6 (Reuters) - Britain's business minister Jonathan Reynolds said he will meet Jaguar Land Rover's CEO this week to discuss job cuts at the country's biggest carmaker, amid reports it is looking to shed 4,000 roles.
Reynolds told the BBC on Sunday that while he wanted to mitigate job losses, the business environment for carmakers was "challenging" in the UK and across Europe.
"If this is about making sure over time that workforce is right to make the business as competitive as possible, that's the conversation we need to have," Reynolds said on Sunday.
JLR, which employs about 30,000 people in Britain and whose largest plant is in Solihull, West Midlands, is owned by India's Tata Motors TAMO.NS. It said in a statement it needed to make £1.7 billion of savings over the next two years and as such it would be opening a voluntary redundancy programme.
TARIFFS AND CHINESE IMPORTS
"We need to adapt to evolving global market conditions," a JLR spokesperson said.
The job cuts would be a setback for Prime Minister Andy Burnham, who took office six weeks ago, and has repeatedly said he wants to "reindustrialise" Britain.
JLR, which also has major sites in central and northern England, has been affected by the fallout from tariffs imposed by U.S. President Donald Trump, as the U.S. is an important market for its luxury Range Rover and Defender models, while competition from Chinese models such as the Jaecoo 7 — ranked third among Britain's top-selling cars — is also hitting sales.
The Times newspaper said 4,000 roles at JLR would be cut over two years through a redundancy programme due to be announced on Monday.
Earlier in September, German carmaker Volkswagen's VOWG_p.DE supervisory board approved a transformation plan that will include cutting 50,000 jobs in its attempt to counter tariffs and Chinese competition.
(Reporting by Sarah Young; Editing by David Holmes)
(([email protected]; +44 20 7542 1109; Reuters Messaging: [email protected]))
LONDON, Sept 6 (Reuters) - Britain's business minister Jonathan Reynolds said he will meet Jaguar Land Rover's CEO this week to discuss job cuts at the country's biggest carmaker, amid reports it is looking to shed 4,000 roles.
Reynolds told the BBC on Sunday that while he wanted to mitigate job losses, the business environment for carmakers was "challenging" in the UK and across Europe.
"If this is about making sure over time that workforce is right to make the business as competitive as possible, that's the conversation we need to have," Reynolds said on Sunday.
JLR, which employs about 30,000 people in Britain and whose largest plant is in Solihull, West Midlands, is owned by India's Tata Motors TAMO.NS. It said in a statement it needed to make £1.7 billion of savings over the next two years and as such it would be opening a voluntary redundancy programme.
TARIFFS AND CHINESE IMPORTS
"We need to adapt to evolving global market conditions," a JLR spokesperson said.
The job cuts would be a setback for Prime Minister Andy Burnham, who took office six weeks ago, and has repeatedly said he wants to "reindustrialise" Britain.
JLR, which also has major sites in central and northern England, has been affected by the fallout from tariffs imposed by U.S. President Donald Trump, as the U.S. is an important market for its luxury Range Rover and Defender models, while competition from Chinese models such as the Jaecoo 7 — ranked third among Britain's top-selling cars — is also hitting sales.
The Times newspaper said 4,000 roles at JLR would be cut over two years through a redundancy programme due to be announced on Monday.
Earlier in September, German carmaker Volkswagen's VOWG_p.DE supervisory board approved a transformation plan that will include cutting 50,000 jobs in its attempt to counter tariffs and Chinese competition.
(Reporting by Sarah Young; Editing by David Holmes)
(([email protected]; +44 20 7542 1109; Reuters Messaging: [email protected]))
Sept 3 (Reuters) - Autoline Industries Ltd AUIN.NS:
AUTOLINE INDUSTRIES LTD - SECURES ORDER WORTH 1 BILLION RUPEES FROM TATA MOTORS PASSENGER VEHICLES
Source text: [ID:]
Further company coverage: AUIN.NS
(([email protected];;))
Sept 3 (Reuters) - Autoline Industries Ltd AUIN.NS:
AUTOLINE INDUSTRIES LTD - SECURES ORDER WORTH 1 BILLION RUPEES FROM TATA MOTORS PASSENGER VEHICLES
Source text: [ID:]
Further company coverage: AUIN.NS
(([email protected];;))
The following factors could affect Italian markets on Wednesday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
DEBT
Italy posted a state sector budget deficit of €12.3 billion ($14.25 billion) in August compared to a shortfall of €204 million in the same month last year, the Treasury said in a statement on Tuesday.
COMPANIES
(*) LOTTOMATICA LTMC.MI
The Italian betting firm will take over Spain's Cirsa CIRSA.MC to create a global gaming player whose top shareholder will be U.S. private equity firm Blackstone BX.N, the two companies said on Wednesday.
(*) SNAM SRG.MI
Italian firms F2i, Edison EDNn.MI and Retina Biometano have been admitted to the final stage of the sale process for Bioenerys, the biomethane unit of the Italian gas grid operator, Il Sole 24 Ore reported on Wednesday. Retina Biometano is reportedly interested in acquiring the whole of Bioenerys, while F2i and Edison are interested in different units of the company, Il Sole added.
(*) ENEL ENEI.MI
Three Indian companies - Purvah Green Power, Inox Clean Energy and Hexa Climate Solutions - have submitted binding bids to acquire 100% of Enel Green Power India, Enel's Indian renewable energy unit, MF daily reported on Wednesday, citing local sources.
Purvah Green Power is a unit of Indian power utility CESC CESC.NS.
(*) AVIO AVI.MI
Berenberg on Wednesday initiated coverage of the rocket maker with a 'hold' rating and a target price of €33.
INTESA SANPAOLO ISP.MI, MONTE DEI PASCHI BMPS.MI
Italy's largest bank does not expect its buyout offer for Monte dei Paschi di Siena to be hampered by defence bids mounted by its takeover target or by clarifications sought by the markets watchdog, a person close to the matter said on Tuesday.
IVECO IVG.MI
The truck-maker said on Tuesday that all prior regulatory approvals had been obtained in connection with the offer launched for it by India's Tata Motors.
STELLANTIS STLAM.MI
The Franco-Italian automaker's new car sales in Italy rose 6.1% in August, the Italian transport ministry reported on Tuesday, outperforming a 3.15% increase in overall Italian car registrations during the month.
BPER BANCA EMII.MI
The lender said on Tuesday it would launch on Sept 2 its share buyback programme and the early termination of the Total Return Swap (TRS) on BPER shares. As part of the programme, BPER ordinary shares may be purchased not exceeding 3% of its share capital, for a maximum total value of €750 million.
LEONARDO LDOF.MI
The Italian defence company on Tuesday named Stefano Villanti as managing director of its helicopters division.
The list of companies comprising Italy's blue chip FTSE MIB stock index is due to be updated on Wednesday.
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage).............PG.MI
20 biggest losers (in percentage)..............PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide...................EUR/EQUITY
FTSEurofirst 300 index...............................FTEU3
DJ STOXX index.......................................STOXX
Top 10 STOXX sectors............................PGL.STOXXS
Top 10 EUROSTOXX sectors.......................PGL.STOXXES
Top 10 Eurofirst 300 sectors....................PGL.FTEU3S
Top 25 European pct gainers........................PG.PEUR
Top 25 European pct losers.........................PL.PEUR
Main stock markets:
Dow Jones................DJI Wall Street report ......N
Nikkei 225..............N225 Tokyo report.............T
FTSE 100................FTSE London report............L
Xetra DAX..............GDAXI Frankfurt market stories.F
CAC-40..................FCHI Paris market stories....PA
World Indices.....................................0#.INDEX
Reuters survey of world bourse outlook.........EQUITYPOLL1
Western European IPO diary..........................WEUIPO
European Asset Allocation........................EUR/ASSET
Reuters News at a Glance: Equities...............TOP/EQE
Main currency report:...............................FRX/
The following factors could affect Italian markets on Wednesday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
DEBT
Italy posted a state sector budget deficit of €12.3 billion ($14.25 billion) in August compared to a shortfall of €204 million in the same month last year, the Treasury said in a statement on Tuesday.
COMPANIES
(*) LOTTOMATICA LTMC.MI
The Italian betting firm will take over Spain's Cirsa CIRSA.MC to create a global gaming player whose top shareholder will be U.S. private equity firm Blackstone BX.N, the two companies said on Wednesday.
(*) SNAM SRG.MI
Italian firms F2i, Edison EDNn.MI and Retina Biometano have been admitted to the final stage of the sale process for Bioenerys, the biomethane unit of the Italian gas grid operator, Il Sole 24 Ore reported on Wednesday. Retina Biometano is reportedly interested in acquiring the whole of Bioenerys, while F2i and Edison are interested in different units of the company, Il Sole added.
(*) ENEL ENEI.MI
Three Indian companies - Purvah Green Power, Inox Clean Energy and Hexa Climate Solutions - have submitted binding bids to acquire 100% of Enel Green Power India, Enel's Indian renewable energy unit, MF daily reported on Wednesday, citing local sources.
Purvah Green Power is a unit of Indian power utility CESC CESC.NS.
(*) AVIO AVI.MI
Berenberg on Wednesday initiated coverage of the rocket maker with a 'hold' rating and a target price of €33.
INTESA SANPAOLO ISP.MI, MONTE DEI PASCHI BMPS.MI
Italy's largest bank does not expect its buyout offer for Monte dei Paschi di Siena to be hampered by defence bids mounted by its takeover target or by clarifications sought by the markets watchdog, a person close to the matter said on Tuesday.
IVECO IVG.MI
The truck-maker said on Tuesday that all prior regulatory approvals had been obtained in connection with the offer launched for it by India's Tata Motors.
STELLANTIS STLAM.MI
The Franco-Italian automaker's new car sales in Italy rose 6.1% in August, the Italian transport ministry reported on Tuesday, outperforming a 3.15% increase in overall Italian car registrations during the month.
BPER BANCA EMII.MI
The lender said on Tuesday it would launch on Sept 2 its share buyback programme and the early termination of the Total Return Swap (TRS) on BPER shares. As part of the programme, BPER ordinary shares may be purchased not exceeding 3% of its share capital, for a maximum total value of €750 million.
LEONARDO LDOF.MI
The Italian defence company on Tuesday named Stefano Villanti as managing director of its helicopters division.
The list of companies comprising Italy's blue chip FTSE MIB stock index is due to be updated on Wednesday.
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage).............PG.MI
20 biggest losers (in percentage)..............PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide...................EUR/EQUITY
FTSEurofirst 300 index...............................FTEU3
DJ STOXX index.......................................STOXX
Top 10 STOXX sectors............................PGL.STOXXS
Top 10 EUROSTOXX sectors.......................PGL.STOXXES
Top 10 Eurofirst 300 sectors....................PGL.FTEU3S
Top 25 European pct gainers........................PG.PEUR
Top 25 European pct losers.........................PL.PEUR
Main stock markets:
Dow Jones................DJI Wall Street report ......N
Nikkei 225..............N225 Tokyo report.............T
FTSE 100................FTSE London report............L
Xetra DAX..............GDAXI Frankfurt market stories.F
CAC-40..................FCHI Paris market stories....PA
World Indices.....................................0#.INDEX
Reuters survey of world bourse outlook.........EQUITYPOLL1
Western European IPO diary..........................WEUIPO
European Asset Allocation........................EUR/ASSET
Reuters News at a Glance: Equities...............TOP/EQE
Main currency report:...............................FRX/
- TML CV Holdings, controlled by Tata Motors, is pursuing a bid for all Iveco Group common shares.
- All required pre-closing regulatory clearances have now been secured, including sign-offs tied to Iveco’s UK, Spanish, and French finance units.
- The offer document is expected to be published once the review by Italy’s market regulator is completed.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Iveco Group NV published the original content used to generate this news brief via SDIR, the Italian regulatory disclosure system (Ref. ID: 2458_171235_2026_oneinfo.pdf), on September 01, 2026, and is solely responsible for the information contained therein.
- TML CV Holdings, controlled by Tata Motors, is pursuing a bid for all Iveco Group common shares.
- All required pre-closing regulatory clearances have now been secured, including sign-offs tied to Iveco’s UK, Spanish, and French finance units.
- The offer document is expected to be published once the review by Italy’s market regulator is completed.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Iveco Group NV published the original content used to generate this news brief via SDIR, the Italian regulatory disclosure system (Ref. ID: 2458_171235_2026_oneinfo.pdf), on September 01, 2026, and is solely responsible for the information contained therein.
Tata Motors Passenger Vehicles scheduled a physical group meeting with analysts and institutional investors for September 2, 2026 at 4 p.m. IST. Participants included Helios Capital Management, Old Bridge Capital Management and a range of domestic mutual funds, pension funds and asset managers. Following the 2025 demerger, the company housed Tata’s India passenger-vehicle business and Jaguar Land Rover. Its latest reported quarter showed consolidated revenue of ₹95,799 crore and profit after tax of ₹859 crore, with JLR accounting for roughly 80% of revenue.
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Tata Motors Passenger Vehicles scheduled a physical group meeting with analysts and institutional investors for September 2, 2026 at 4 p.m. IST. Participants included Helios Capital Management, Old Bridge Capital Management and a range of domestic mutual funds, pension funds and asset managers. Following the 2025 demerger, the company housed Tata’s India passenger-vehicle business and Jaguar Land Rover. Its latest reported quarter showed consolidated revenue of ₹95,799 crore and profit after tax of ₹859 crore, with JLR accounting for roughly 80% of revenue.
Powered by Tijori
Aug 25 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
TATA COMMUNICATIONS - PARTNERS WITH TATA MOTORS PASSENGER VEHICLES FOR SOFTWARE-DEFINED VEHICLE DEPLOYMENT
Source text: ID:nnAZN4TG4PW
Further company coverage: TAMO.NS
(([email protected];))
Aug 25 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
TATA COMMUNICATIONS - PARTNERS WITH TATA MOTORS PASSENGER VEHICLES FOR SOFTWARE-DEFINED VEHICLE DEPLOYMENT
Source text: ID:nnAZN4TG4PW
Further company coverage: TAMO.NS
(([email protected];))
Aug 24 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
The Times
- Britain has agreed to give Ukraine classified blueprints for a long-range missile that can strike deep behind enemy lines ahead of Andy Burnham's first visit to the country since becoming prime minister.
- A further £37 million ($50.51 million) has been injected into the troubled Bank of London amid warnings from the loss-making fintech about its future.
The Guardian
- Russia has withdrawn its ambassador to the UK, with Andrey Kelin leaving last month after seven years in the diplomatic post.
- Train operator CrossCountry cancelled almost all of its train services in Britain on Sunday after a power cut in Birmingham hit its control centre.
The Telegraph
- Jaguar Land Rover has delayed the rollout of its all-electric Defender model as the carmaker embarks on a cost-cutting drive.
Sky News
- Energy solutions provider Aggreko intends to file a registration statement for an initial public offering with American regulators in the coming days.
($1 = 0.7325 pounds)
(Compiled by Bengaluru newsroom)
Aug 24 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
The Times
- Britain has agreed to give Ukraine classified blueprints for a long-range missile that can strike deep behind enemy lines ahead of Andy Burnham's first visit to the country since becoming prime minister.
- A further £37 million ($50.51 million) has been injected into the troubled Bank of London amid warnings from the loss-making fintech about its future.
The Guardian
- Russia has withdrawn its ambassador to the UK, with Andrey Kelin leaving last month after seven years in the diplomatic post.
- Train operator CrossCountry cancelled almost all of its train services in Britain on Sunday after a power cut in Birmingham hit its control centre.
The Telegraph
- Jaguar Land Rover has delayed the rollout of its all-electric Defender model as the carmaker embarks on a cost-cutting drive.
Sky News
- Energy solutions provider Aggreko intends to file a registration statement for an initial public offering with American regulators in the coming days.
($1 = 0.7325 pounds)
(Compiled by Bengaluru newsroom)
Aug 21 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
COMPOUNDING ORDER RECEIVED FROM THE RESERVE BANK OF INDIA
COMPOUNDING AMOUNT OF 200,000 RUPEES FOR NON-COMPLIANCE UNDER FOREX MANAGEMENT RULES
Further company coverage: TAMO.NS
(([email protected];;))
Aug 21 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
COMPOUNDING ORDER RECEIVED FROM THE RESERVE BANK OF INDIA
COMPOUNDING AMOUNT OF 200,000 RUPEES FOR NON-COMPLIANCE UNDER FOREX MANAGEMENT RULES
Further company coverage: TAMO.NS
(([email protected];;))
Aug 19 (Reuters) - Autoline Industries Ltd AUIN.NS:
SECURES 1.10 BILLION RUPEES ORDER FROM TATA MOTORS PASSENGER VEHICLES
ORDER FROM TATA MOTORS PASSENGER VEHICLES FOR HATCHBACK COMPONENTS
Source text: ID:nBSE2JrG2V
Further company coverage: AUIN.NS
(([email protected];;))
Aug 19 (Reuters) - Autoline Industries Ltd AUIN.NS:
SECURES 1.10 BILLION RUPEES ORDER FROM TATA MOTORS PASSENGER VEHICLES
ORDER FROM TATA MOTORS PASSENGER VEHICLES FOR HATCHBACK COMPONENTS
Source text: ID:nBSE2JrG2V
Further company coverage: AUIN.NS
(([email protected];;))
- Vertu Motors named Lucy DiClemente head of business at its Land Rover dealership in Nelson.
- DiClemente will run day-to-day operations at the Lomeshaye Business Park site.
- She will report to James Boyd, market area general manager for Vertu’s Land Rover sites in North West England.
- DiClemente was most recently brand manager at Vertu MINI York, with more than a decade of MINI experience.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vertu Motors plc published the original content used to generate this news brief on August 18, 2026, and is solely responsible for the information contained therein.
- Vertu Motors named Lucy DiClemente head of business at its Land Rover dealership in Nelson.
- DiClemente will run day-to-day operations at the Lomeshaye Business Park site.
- She will report to James Boyd, market area general manager for Vertu’s Land Rover sites in North West England.
- DiClemente was most recently brand manager at Vertu MINI York, with more than a decade of MINI experience.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vertu Motors plc published the original content used to generate this news brief on August 18, 2026, and is solely responsible for the information contained therein.
Aug 14 (Reuters) - Shares of Tata Motors Passenger Vehicles TAMO.NS fell 4.8% to 332.1 rupees on Friday after the company's luxury unit, Jaguar Land Rover, reported lower quarterly volumes and high margin pressure, driving an 80% drop in quarterly net profit and weighing on investor sentiment.
(Reporting by Saikeerthi in Bengaluru; Editing by Harikrishnan Nair)
(([email protected]; (+91) 8296756080))
Aug 14 (Reuters) - Shares of Tata Motors Passenger Vehicles TAMO.NS fell 4.8% to 332.1 rupees on Friday after the company's luxury unit, Jaguar Land Rover, reported lower quarterly volumes and high margin pressure, driving an 80% drop in quarterly net profit and weighing on investor sentiment.
(Reporting by Saikeerthi in Bengaluru; Editing by Harikrishnan Nair)
(([email protected]; (+91) 8296756080))
Aug 13 (Reuters) -
INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JULY TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,57,810 UNITS
SIAM - INDIA'S JULY 3-WHEELER SALES 92,560 UNITS
SIAM - INDIA'S JULY 2-WHEELER SALES 19,23,483 UNITS
(([email protected];))
Aug 13 (Reuters) -
INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JULY TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,57,810 UNITS
SIAM - INDIA'S JULY 3-WHEELER SALES 92,560 UNITS
SIAM - INDIA'S JULY 2-WHEELER SALES 19,23,483 UNITS
(([email protected];))
Aug 12 (Reuters) - Tata Motors TATM.NS reported a higher quarterly profit on Wednesday, aided by demand from infrastructure, logistics and freight customers, which helped counter an uptick in commodity costs.
The automaker reported a net profit of 15.28 billion rupees ($160.29 million) for the April to June quarter, compared to 14.11 billion rupees a year earlier.
($1 = 95.3300 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
(([email protected];))
Aug 12 (Reuters) - Tata Motors TATM.NS reported a higher quarterly profit on Wednesday, aided by demand from infrastructure, logistics and freight customers, which helped counter an uptick in commodity costs.
The automaker reported a net profit of 15.28 billion rupees ($160.29 million) for the April to June quarter, compared to 14.11 billion rupees a year earlier.
($1 = 95.3300 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
(([email protected];))
Rewrites throughout with comments from FADA's vice president
By Kashish Tandon and Abhinav Parmar
Aug 6 (Reuters) - Consumer uncertainty over India's transition to E20 petrol is pushing some buyers toward vehicles powered by alternative fuels, a senior industry official said on Thursday.
Sales of alternative-fuel passenger vehicles, including CNG, hybrid and electric models, came within "striking distance" of petrol models in July, according to the Federation of Automobile Dealers Associations (FADA).
These vehicles accounted for 40.59% of total sales in July, just 1.09 percentage points behind petrol-powered vehicles at 41.68%.
India's petroleum and road transport ministries did not immediately respond to Reuters' requests for comment.
The shift comes amid concerns surrounding India's nationwide rollout of E20 petrol, which contains 20% ethanol, a plant-derived alcohol mixed into petrol to reduce dependence on imported crude oil. The policy replaced the earlier E10 variant.
The transition has drawn criticism from some consumers, who say the higher ethanol blend affects fuel efficiency and vehicle performance, particularly in older vehicles not designed for E20 fuel.
"What we are seeing is more consumer queries than complaints," Sai Giridhar, vice president of FADA, told Reuters, adding that dealers have not received a single complaint linking vehicle issues to E20 fuel despite servicing thousands of models every month.
Petrol-powered share of passenger vehicle sales fell to about 41% from 47.6% a year earlier, while diesel's share remained largely unchanged at about 18%, Giridhar said.
As petrol's share declined, CNG and electric vehicles gained ground. CNG's share rose to about 24% from 21% a year earlier, while EVs accounted for nearly 8% of sales, up from about 5%, he added.
Giridhar said dealer surveys suggest some consumers are delaying purchases of petrol vehicles or exploring alternative-fuel options because of concerns around E20, fuel economy and vehicle compatibility.
He attributed much of the anxiety to misinformation and a lack of awareness, saying automakers and dealers were initially unprepared for the volume of customer queries surrounding the fuel transition.
FADA said while passenger vehicles enter August with healthy pipelines and fresh launches, clearer communication around the E20 rollout could help convert hesitant buyers.
Overall passenger vehicle retail sales rose 19.1% year-on-year to 416,555 units in July, helped by tax-cut-led demand and new model launches, FADA added.
(Reporting by Kashish Tandon and Abhinav Parmar in Bengaluru; Editing by Sonia Cheema)
(([email protected]; 8800437922;))
Rewrites throughout with comments from FADA's vice president
By Kashish Tandon and Abhinav Parmar
Aug 6 (Reuters) - Consumer uncertainty over India's transition to E20 petrol is pushing some buyers toward vehicles powered by alternative fuels, a senior industry official said on Thursday.
Sales of alternative-fuel passenger vehicles, including CNG, hybrid and electric models, came within "striking distance" of petrol models in July, according to the Federation of Automobile Dealers Associations (FADA).
These vehicles accounted for 40.59% of total sales in July, just 1.09 percentage points behind petrol-powered vehicles at 41.68%.
India's petroleum and road transport ministries did not immediately respond to Reuters' requests for comment.
The shift comes amid concerns surrounding India's nationwide rollout of E20 petrol, which contains 20% ethanol, a plant-derived alcohol mixed into petrol to reduce dependence on imported crude oil. The policy replaced the earlier E10 variant.
The transition has drawn criticism from some consumers, who say the higher ethanol blend affects fuel efficiency and vehicle performance, particularly in older vehicles not designed for E20 fuel.
"What we are seeing is more consumer queries than complaints," Sai Giridhar, vice president of FADA, told Reuters, adding that dealers have not received a single complaint linking vehicle issues to E20 fuel despite servicing thousands of models every month.
Petrol-powered share of passenger vehicle sales fell to about 41% from 47.6% a year earlier, while diesel's share remained largely unchanged at about 18%, Giridhar said.
As petrol's share declined, CNG and electric vehicles gained ground. CNG's share rose to about 24% from 21% a year earlier, while EVs accounted for nearly 8% of sales, up from about 5%, he added.
Giridhar said dealer surveys suggest some consumers are delaying purchases of petrol vehicles or exploring alternative-fuel options because of concerns around E20, fuel economy and vehicle compatibility.
He attributed much of the anxiety to misinformation and a lack of awareness, saying automakers and dealers were initially unprepared for the volume of customer queries surrounding the fuel transition.
FADA said while passenger vehicles enter August with healthy pipelines and fresh launches, clearer communication around the E20 rollout could help convert hesitant buyers.
Overall passenger vehicle retail sales rose 19.1% year-on-year to 416,555 units in July, helped by tax-cut-led demand and new model launches, FADA added.
(Reporting by Kashish Tandon and Abhinav Parmar in Bengaluru; Editing by Sonia Cheema)
(([email protected]; 8800437922;))
Automakers warn government of ethanol fuel contamination
E20 rollout sparks complaints of vehicle damage, lower mileage
Officials dismiss concerns as misinformation, see few signs
By Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh
NEW DELHI, Aug 5 (Reuters) - India's auto industry said it would revamp numbers furnished to the government as it withdrew its first warning of damage to vehicle parts caused by contaminated ethanol-blended fuel, stoking consumer anger over the contentious policy.
Tuesday's move came hours after media reported the group's warning, sparking public uproar and forcing the petroleum ministry to issue a clarification.
"The referred numbers reported in the media need authentication," the Society of Indian Automobile Manufacturers said in a statement, "... and therefore SIAM is withdrawing its earlier communication."
SIAM, which sent its warning on July 28, and the recipient, India's petroleum ministry, did not immediately respond to requests for comment.
With their letter, seen by Reuters, India's automakers accept for the first time issues stemming from a mandatory policy that sparked street protests, legal cases and consumer anger after the government rolled it out at 90,000 fuel pumps.
The lobby group did not deny the issue of contamination in its statement, but said some numbers quoted "need authentication through collection of elaborate data ... across the country followed by a comprehensive consultation".
The group, whose members include Maruti Suzuki, Tata Motors, Toyota Motor Corp and Mercedes Benz, did not say when the efforts would be completed, however.
QUESTIONS FROM VEHICLE OWNERS
Vehicle owners are at best sceptical about the U-turn.
"Did the science change overnight, or did the ministry call?" Nachiket Deshpande, one of dozens of angry social media users, asked on X.
The policy of blending 20% ethanol in petrol to yield a product called E20 replaced E10 nationwide in 2025.
That was well ahead of a 2030 deadline as Prime Minister Narendra Modi's government sought to cut costly petroleum imports, although E20-compliant cars had only begun hitting the roads in 2023.
The rollout provoked uproar instead among consumers who blame the fuel for mileage drops and vehicle damage, with many demanding a choice of lower ethanol blends, particularly for vehicles that cannot use E20.
The government sought to soothe the concerns with press statements and social media campaigns, drafting in executives from leading carmakers such as Maruti and Hyundai to defend the roll-out at a July press conference.
WARNINGS OF CORROSION OR WEAR
In its missive to the ministry, the group warned of elevated chloride and moisture levels in E20 fuel sold at retail outlets nationwide.
"Members are observing a huge increase in the issues in customer vehicle parts and replacement. Investigations ... reveal the failure is due to corrosion or wear caused by high chloride presence which is traced to the fuel used," it said.
Car parts in direct contact with the fuel or engine emissions suffered the most, "specifically after E20 implementation", it added.
It also flagged high moisture levels in the fuel that it said could immobilise the vehicle immediately after fuelling, calling on the ministry for tougher quality checks against contamination.
Fuel quality is monitored on a regular basis by oil marketing companies and only two cases of chloride contamination were found in a sample of 2,000 tests, the ministry had said on social media on Tuesday.
Speaking to Reuters on condition of anonymity on Wednesday, a senior government official called the fuel concerns a "misinformation campaign" against E20, playing out mainly on social media with no real evidence in cars on the road.
(Reporting by Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh; Additional reporting by Aditya Kalra; Editing by Clarence Fernandez)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
Automakers warn government of ethanol fuel contamination
E20 rollout sparks complaints of vehicle damage, lower mileage
Officials dismiss concerns as misinformation, see few signs
By Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh
NEW DELHI, Aug 5 (Reuters) - India's auto industry said it would revamp numbers furnished to the government as it withdrew its first warning of damage to vehicle parts caused by contaminated ethanol-blended fuel, stoking consumer anger over the contentious policy.
Tuesday's move came hours after media reported the group's warning, sparking public uproar and forcing the petroleum ministry to issue a clarification.
"The referred numbers reported in the media need authentication," the Society of Indian Automobile Manufacturers said in a statement, "... and therefore SIAM is withdrawing its earlier communication."
SIAM, which sent its warning on July 28, and the recipient, India's petroleum ministry, did not immediately respond to requests for comment.
With their letter, seen by Reuters, India's automakers accept for the first time issues stemming from a mandatory policy that sparked street protests, legal cases and consumer anger after the government rolled it out at 90,000 fuel pumps.
The lobby group did not deny the issue of contamination in its statement, but said some numbers quoted "need authentication through collection of elaborate data ... across the country followed by a comprehensive consultation".
The group, whose members include Maruti Suzuki, Tata Motors, Toyota Motor Corp and Mercedes Benz, did not say when the efforts would be completed, however.
QUESTIONS FROM VEHICLE OWNERS
Vehicle owners are at best sceptical about the U-turn.
"Did the science change overnight, or did the ministry call?" Nachiket Deshpande, one of dozens of angry social media users, asked on X.
The policy of blending 20% ethanol in petrol to yield a product called E20 replaced E10 nationwide in 2025.
That was well ahead of a 2030 deadline as Prime Minister Narendra Modi's government sought to cut costly petroleum imports, although E20-compliant cars had only begun hitting the roads in 2023.
The rollout provoked uproar instead among consumers who blame the fuel for mileage drops and vehicle damage, with many demanding a choice of lower ethanol blends, particularly for vehicles that cannot use E20.
The government sought to soothe the concerns with press statements and social media campaigns, drafting in executives from leading carmakers such as Maruti and Hyundai to defend the roll-out at a July press conference.
WARNINGS OF CORROSION OR WEAR
In its missive to the ministry, the group warned of elevated chloride and moisture levels in E20 fuel sold at retail outlets nationwide.
"Members are observing a huge increase in the issues in customer vehicle parts and replacement. Investigations ... reveal the failure is due to corrosion or wear caused by high chloride presence which is traced to the fuel used," it said.
Car parts in direct contact with the fuel or engine emissions suffered the most, "specifically after E20 implementation", it added.
It also flagged high moisture levels in the fuel that it said could immobilise the vehicle immediately after fuelling, calling on the ministry for tougher quality checks against contamination.
Fuel quality is monitored on a regular basis by oil marketing companies and only two cases of chloride contamination were found in a sample of 2,000 tests, the ministry had said on social media on Tuesday.
Speaking to Reuters on condition of anonymity on Wednesday, a senior government official called the fuel concerns a "misinformation campaign" against E20, playing out mainly on social media with no real evidence in cars on the road.
(Reporting by Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh; Additional reporting by Aditya Kalra; Editing by Clarence Fernandez)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
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What does Tata MotorsPassenger do?
Tata Motors passenger Vehicles Ltd is a leading global automobile manufacturer of cars and utility vehicles, offering an extensive range of integrated, smart, and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market. Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fuelled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. By focusing on engineering and tech- enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused on developing pioneering technologies that are both sustainable and suited to the evolving market and customer aspirations.;
Who are the competitors of Tata MotorsPassenger?
Tata MotorsPassenger major competitors are Hindustan Motors, Mahindra & Mahindra, Maruti Suzuki India. Market Cap of Tata MotorsPassenger is ₹1,03,032 Crs. While the median market cap of its peers are ₹3,52,416 Crs.
Is Tata MotorsPassenger financially stable compared to its competitors?
Tata MotorsPassenger seems to be less financially stable compared to its competitors. Altman Z score of Tata MotorsPassenger is 1.44 and is ranked 4 out of its 4 competitors.
Does Tata MotorsPassenger pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Tata MotorsPassenger latest dividend payout ratio is 1.34% and 3yr average dividend payout ratio is 5.53%
How has Tata MotorsPassenger allocated its funds?
Companies resources are allocated to majorly unproductive assets like Capital Work in Progress, Inventory, Accounts Receivable, Short Term Loans & Advances
How strong is Tata MotorsPassenger balance sheet?
Tata MotorsPassenger balance sheet is weak and might have solvency issues
Is the profitablity of Tata MotorsPassenger improving?
The profit is oscillating. The profit of Tata MotorsPassenger is ₹79,145 Crs for TTM, ₹82,390 Crs for Mar 2026 and ₹27,830 Crs for Mar 2025.
Is the debt of Tata MotorsPassenger increasing or decreasing?
Yes, The net debt of Tata MotorsPassenger is increasing. Latest net debt of Tata MotorsPassenger is ₹10,652 Crs as of Mar-26. This is greater than Mar-25 when it was -₹19,071 Crs.
Is Tata MotorsPassenger stock expensive?
Tata MotorsPassenger is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE. Latest PE of Tata MotorsPassenger is 1.3, while 3 year average PE is 10.26. Also latest EV/EBITDA of Tata MotorsPassenger is 8.48 while 3yr average is 7.44.
Has the share price of Tata MotorsPassenger grown faster than its competition?
Tata MotorsPassenger has given lower returns compared to its competitors. Tata MotorsPassenger has grown at ~-6.71% over the last 10yrs while peers have grown at a median rate of 8.33%
Is the promoter bullish about Tata MotorsPassenger?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in Tata MotorsPassenger is 42.51% and last quarter promoter holding is 42.56%. Please check if dilutions happened via QIP/ Offerings etc.
Are mutual funds buying/selling Tata MotorsPassenger?
The mutual fund holding of Tata MotorsPassenger is increasing. The current mutual fund holding in Tata MotorsPassenger is 10.05% while previous quarter holding is 9.95%.