Yesterday, various automotive publication houses published news about Tata Motors selling 49% stakes in the personal vehicle segment. This news was all around the internet. Now Tata Motors has issued a statement clarifying on the names of potential partners/investors. The major points that have been cleared are:
- Tata Motors Ltd had announced about the intent of subsidizing the PV business. It is a step towards securing mutual beneficial strategic alliances to provide powertrain, products, architecture and capital. One such alliance in India is the Mahindra and Ford’s JV.
- TML’s products are receiving a very good response from the customers. The company is offering safety, comfort and driveability in its cars.
- “All the published news about ‘Tata Motors to sell 49% stake in PV business’ and the names of potential partners/investors mentioned is incorrect and misleading.” – TML
- TML is, in fact, looking to secure a mutual alliance in the future in order to strengthen the cash flow in the market and ensuring cost-effective products for the customers.
Currently, the company is offering Altroz, Nexon, Tiago, Tigor and Harrier in the Indian market. The cars have ensured safety and great customer response. The company has also recorded a sales of over 15,000 units last month which is a YoY growth of 43%. Take a look at the official statement below.0