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Tata Motors Seeks Incentive Extension On E-Taxis For 3 Years

Inc42 · 1y ago

Tata Motors Seeks Incentive Extension On E-Taxis For 3 Years

Tata Motors has urged the Indian government to extend incentives for electric taxis for an additional three years and include personal cars in its demand support program, FAME. The company is requesting support for EV adoption until unit sales reach at least 20% of all new cars sold. Tata Motors is also calling for continued incentives of INR 10,000/kWh battery size for electric taxis and inclusion of personal vehicles in future incentive schemes. The company believes that with sustained support, India can accelerate EV adoption and achieve goals related to air pollution reduction and economic growth.

Related News

Tata Motors pushes for e-taxi subsidy after exclusion from PM E-Drive

Livemint

Livemint · 11m ago

Tata Motors pushes for e-taxi subsidy after exclusion from PM E-Drive

Tata Motors is seeking the inclusion of e-taxis in the Indian government's electric vehicle (EV) subsidy scheme. Under the current scheme, e-taxis are not eligible for subsidies despite being a significant part of shared mobility. Tata Motors argues that e-taxis should be included due to their high CO2 emissions and the potential to replace them with EVs. The exclusion of e-taxis from subsidies has impacted Tata Motors' sales, with a 14% year-on-year decline in EV sales for the quarter ending June 2024.

Tata Motors, M&M, three others may raise Rs 2k cr and PLI claims

Economic Times

Economic Times · 1m ago

Tata Motors, M&M, three others may raise Rs 2k cr and PLI claims

Tata Motors, Mahindra & Mahindra, Bajaj Auto, Ola Electric, and TVS Motor Company are expected to claim over ₹2,000 crore under the Production Linked Incentive (PLI) scheme for automotives in the current fiscal year. Bajaj Auto may claim ₹630 crore, Tata Motors ₹409 crore, and Ola Electric ₹380 crore, with others following. Despite significant claims, they are short of FY26 budget estimates. The scheme has prompted domestic investments of ₹29,576 crore until 2025.

Demerger caps a decades-long metamorphosis of Tata Motors

Money Control

Money Control · 1y ago

Demerger caps a decades-long metamorphosis of Tata Motors

Tata Motors, formerly known as Telco, has succeeded in a corporate transformation that took 25 years. The idea of dividing the company into two was proposed in 1998, and Tata Motors has since focused on producing both heavy and light motor vehicles. Over the years, the company has faced the challenge of competing with Maruti Suzuki and has emerged as a prominent player in the passenger vehicle and electric vehicle markets. The acquisition of Jaguar Land Rover also helped Tata Motors establish a strong presence in the EV industry.

Tata Motors to hike prices of commercial vehicles from next year

Livemint

Livemint · 1y ago

Tata Motors to hike prices of commercial vehicles from next year

Indian automotive manufacturer Tata Motors has announced a price hike of up to 3% on its commercial vehicles, effective January 1, 2024, to offset the impact of previous rises in input costs. The increase will apply to all commercial vehicle models, including Tata Ace, Tata Intra, and Tata Winger. This announcement comes after the company reported a marginal decrease in global sales for November 2023. Tata Motors is also considering a price hike for its passenger and electric vehicles in January. Other automakers in India, such as Mahindra & Mahindra and Honda Cars, are also planning price increases.

Tata Motors signs MoU with Green Energy Mobility to supply e-buses to Tamil Nadu

Economic Times

Economic Times · 27d ago

Tata Motors signs MoU with Green Energy Mobility to supply e-buses to Tamil Nadu

Tata Motors has signed a Memorandum of Understanding with Green Energy Mobility, a subsidiary of Universal Bus Services, to provide 100 electric intercity buses in Tamil Nadu. The 44-seater e-buses, offering up to 300 km on a single charge, feature electronic braking and stability control systems. This initiative, supported by Tamil Nadu's government, aims to promote sustainable and efficient mobility, reflecting Tata Motors' commitment to innovation in intercity transportation.

Second hike in 2024, Tata Motors to increase commercial vehicle prices from April

Thehindubusinessline

Thehindubusinessline · 1y ago

Second hike in 2024, Tata Motors to increase commercial vehicle prices from April

Indian automaker Tata Motors has announced that it will increase the prices of its commercial vehicles (CVs) by up to 2% from April 1. This is the second price increase for Tata Motors' CVs in 2024, with the first increase of up to 3% announced for January 1. The company stated that the price hike is intended to offset the residual impact of past input costs. Earlier this year, Tata Motors also increased the prices of its passenger vehicles by up to 0.7%. The automaker recently announced plans to demerge its PVs and CVs businesses into separate entities.

Auto cos seek PLI relaxations amid rare earths supply disruption

Economic Times

Economic Times · 2m ago

Auto cos seek PLI relaxations amid rare earths supply disruption

The Indian auto industry is urging the government to relax domestic value addition norms under the production-linked incentive scheme due to supply chain disruptions from China's restrictions on rare earth magnet shipments. Top manufacturers, including Maruti Suzuki and Tata Motors, request permission to import complete component assemblies from China temporarily to maintain production schedules. The industry relies on existing inventory amidst these challenges and highlights the necessity of relaxed import regulations for continued operations.

Tata Motors' finance unit to merge with Tata Capital

VCCircle

VCCircle · 1y ago

Tata Motors' finance unit to merge with Tata Capital

Tata Motors' vehicle financing unit, Tata Motors Finance, will merge with non-banking financial company Tata Capital through a share swap deal. Shareholders of Tata Motors Finance will receive 37 Tata Capital shares for every 100 shares they hold. The merger aligns with Tata Motors' objective of exiting non-core businesses. Tata Capital, the financial services arm of the Tata Group, provides vehicle loans, home loans, and education loans. After the merger is completed, Tata Motors will hold a 4.7% stake in the merged entity.

Tata Motors to hike prices by up to 2% on commercial vehicles from April 2024

Money Control

Money Control · 1y ago

Tata Motors to hike prices by up to 2% on commercial vehicles from April 2024

Tata Motors has announced a price increase of up to 2 percent on its commercial vehicles, effective from April 1, 2024. The move is aimed at offsetting the residual impact of past input costs. This marks the second price hike in 2024, following a 3 percent increase on January 1. Tata Motors also recently announced the demerger of its businesses into separate entities for commercial vehicles and passenger vehicles, which has been well-received by analysts and rating agencies. The company's stock has seen positive growth as a result of these developments.

Tata Motors holds groundbreaking ceremony for Tamil Nadu factory

Economic Times

Economic Times · 11m ago

Tata Motors holds groundbreaking ceremony for Tamil Nadu factory

Tata Motors held a groundbreaking ceremony for a new facility in Tamil Nadu, which will produce cars and SUVs and is expected to create 5,000 jobs. The factory will manufacture vehicles for Tata Motors and Jaguar Land Rover, catering to both domestic and international markets. The Tata Group has invested in multiple production units in Tamil Nadu over the past three years and has more than 150,000 direct employees in the state. The facility is designed to have an annual production capacity of over 250,000 vehicles and will gradually reach this capacity over the next few years.

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