India's Tata Motors says change of group chairman won't affect investment plans
[MUMBAI] India’s Tata Motors Passenger Vehicles said on Thursday (Aug 13) its investment spending will not change following the exit of parent...
India's Tata Motors Passenger Vehicles announced on Thursday that the departure of parent company Tata Sons' Chairman N Chandrasekaran will not impact its investment plans. The company reported an 80 percent decline in first-quarter earnings, primarily due to supply chain issues at Jaguar Land Rover and rising raw material costs.
Tata Motors, the first group entity to comment on future plans, emphasized its unwavering focus on growth and value creation under the leadership of MD and CEO Shailesh Chandra. The automaker aims to invest between 330 billion and 350 billion rupees in passenger and electric vehicle businesses between FY26 and FY30. Chandra forewarned that cost pressures would persist through the second quarter, expecting commodity price challenges to continue until late September.
Despite the JLR unit's continued struggles, Tata Motors remains confident in its Q2 performance and its target of achieving £1.7 billion in cost savings at JLR over the next two years.
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