Tata Motors to split passenger vehicles business into a separate subsidiary

Published On: Friday, March 27, 2020 | By: Team KnowMyStock

The country's largest carmaker, Tata Motors announced that it will split its passenger vehicles business, including electric vehicles, into a separate subsidiary over the next one year. The Board of Tata Motors has approved to subsidize the company's passenger vehicle business (including EV) by transferring relevant assets, IPs and employees are directly relatable to the PV business for it to be fully functional on a standalone basis through a slump sale. Implementation of the scheme will be subject to regulatory and statutory approvals as applicable, including approval of shareholders and creditors. Tata Motor had invested in a completely new passenger vehicle group in recent years based on new architectures. This could be seen as a step towards Tata Motors forging future alliances for its passenger vehicles business to get better cost economics. The company has appointed Shailesh Chandra, President EV including EV with effect from 01 April 2020.

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