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Tata Motors Executive Director Girish Wagh said that splitting the existing automotive business into two listed entities will help the commercial vehicle sector become more agile and take advantage of opportunities available globally. Under this initiative, the commercial vehicle (CV) business and its related investments will be kept in one entity.
New Delhi: Splitting the existing automotive business into two listed entities will help the commercial vehicle sector become more agile and take advantage of opportunities available globally, Tata Motors Executive Director Girish Wagh said. In March this year, Tata Motors had announced splitting its commercial and passenger vehicle segments into two separate listed entities to better leverage growth opportunities. Under the move, the commercial vehicle (CV) business and its related investments will be housed in one entity.
On the other hand, the passenger vehicle (PV) business will come under a separate listed entity, which includes electric vehicles (EV), Jaguar Land Rover (JLR) and related investments. Wagh, head of Tata Motors’ commercial vehicle business, said in a message to shareholders in the company’s annual report – 2023-24, “The proposed split will help us focus and be better prepared to take advantage of opportunities in the CV market globally.” According to the company, the split will help create synergies in PV, EV and JLR.
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