Tata Motors has announced that they are on the lookout for a business partner. This would be for its passenger vehicle business which has quite expanded in the past few years. The products introduced right from the Tata Tiago up to the Tata Harrier stand out in their segments. Here is more about the Tata Motors Partner hunt.
Tata Passenger Car Partner
The Tata firm’s board approved to form of a separate entity that would make for the passenger vehicle business which would also include the new electric vehicles venture. Tata has a lot of products that people are expecting under the electric portfolio like the Altroz EV and Sierra EV. Also, the development on the regular IC vehicles such as the DCT Altroz and DCT Nexon are being expected soon.
Tata is expected to improve on the places where they had been lacking for Passenger Vehicles. Tata Passenger vehicles are rated very high for safety. Also, the products in themselves are very good with a build quality that would impress and features that would give value for money. With this new partner, Tata would turn its head to other aspects of providing service. We might get to see better after-sales service from Tata.
Tata Motors Partner
President of Passenger Vehicles Business Unit (PVBU), Tata Motors, Shailesh Chandra mentioned that the purpose of this subsidiarisation is to look for a partner. He also added that this could have a bigger productivity boom because of the significant investments in new technologies and regulations. They also expect to launch more products in a shorter time after this merger and reduce product life cycles.
There is no specific timeline for subsidiarisation process. This is just to accelerate the process of converting the Tata Motors Passenger vehicle business into a separate legal entity in a year. Tata Motors has not fixed the terms of creating a business partner. The Tata Motors partner will be chosen through active work. The Assets and capabilities will be created when the partner is found in order to ensure a win-win situation for both firms.During the first half of this fiscal year, the company posted double digit growth in its passenger vehicle segment and held market share of 7.9 percent.