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☆ Nissan invests $1.4 bln to build two new EV models in Britain
  + stars: | 2023-11-24 | by ( Nick Carey | ) www.reuters.com   time to read: +3 min
Nissan has made its electric Leaf model in Sunderland for years and will continue to do so, with batteries supplied by a small plant at the site. It announced a $1.4 billion investment in 2021 to build a second, 9 gigawatt-hour (GWh) battery plant in Sunderland with Chinese partner Envision AESC. Nissan did not comment on the value of any subsidies or guarantees being provided by Britain. [1/4]Britain's Prime Minister Rishi Sunak and Chancellor of the Exchequer Jeremy Hunt attach a Nissan badge to a car as they visit the car manufacturer, Nissan, in Sunderland, Britain, November 24, 2023. But Sunak, who became prime minister a year ago, is having some success turning that around.
Persons: Rishi, Sunak, Nissan's, Alan Johnson, Rishi Sunak, Jeremy Hunt, Chancellor, Makoto Uchida, Brexit, Nick Carey, Sarah Young, Paul Sandle, Sonali Paul, Mark Potter Organizations: Nissan, Investment Summit, Britain, BBC, Britain's, India's Tata Motors, Rover, Thomson Locations: Sunderland, England, Britain, Europe, EVs
☆ Nissan to invest $1.4 bln to build two new EV models in Britain
  + stars: | 2023-11-24 | by ( Nick Carey | ) www.reuters.com   time to read: +2 min
A staff cleans charging ports of Nissan's Leaf battery electric vehicle during the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan, November 1, 2023. Japan's third-biggest automaker said it would announce the names of the new EV models and timings for production launches at a later date. Earlier this year, Nissan raised its targets for EV models as it plays catch up in a segment dominated by newcomers like Tesla (TSLA.O) - saying it would launch 19 new EV models by 2030. The Nissan EV production announcement comes just months after India's Tata Motors (TAMO.NS) said it would invest 4 billion pounds in a UK EV battery plant to supply its Jaguar Land Rover factories. Industry experts had described the Tata battery plant as good progress, but argue Britain needs much more EV battery production capacity to maintain a viable, growing auto industry.
Persons: Kim Kyung, Makoto Uchida, Rishi Sunak, Nick Carey, Sonali Paul Organizations: Japan, REUTERS, Nissan, British, Nissan EV, India's Tata Motors, EV, Rover, Industry, Tata, Thomson Locations: Tokyo, Japan, Sunderland, Europe, Britain
☆ UK's car output continues growth streak for six months in July- SMMT
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +1 min
Aug 31 (Reuters) - Britain's car production rose for the sixth consecutive month in July as automakers continued to recover from global chip shortages, an industry body said on Thursday. "Six months of growth shows that British car production is recovering and, with electrified models increasingly driving volumes, the future is more positive," said SMMT Chief Executive Mike Hawes. The total number of cars produced, however, remained 29.4% lower from the pre-pandemic levels seen in July 2019. The UK's car industry, a significant driver of manufacturing and exports, got a boost last month when India's Tata Motors (TAMO.NS) committed to build a major EV battery plant in Britain to supply its Jaguar Land Rover factories. SMMT had said in July it could take five more years for Britain to return to producing 1 million or more cars a year.
Persons: Mike Hawes, India's Tata, Hawes, SMMT, Anchal Rana, Shilpi Majumdar Organizations: Society of Motor Manufacturers, Traders, India's Tata Motors, EV, Rover, Thomson Locations: Britain, Bengaluru
☆ JLR taps Everstream Analytics' AI to dodge supply chain problems
  + stars: | 2023-06-18 | by ( Nick Carey | ) www.reuters.com   time to read: +1 min
LONDON, June 19 (Reuters) - JLR said on Monday it has partnered with supply chain mapping and risk analytics firm Everstream Analytics, which will embed artificial intelligence into the British luxury carmaker's system to help avert future global supply issues. The new AI technology, JLR said, will allow it to monitor its supply chain in real-time and protect the production of its current models and next generation of electric vehicles (EVs). JLR, a unit of India's Tata Motors (TAMO.NS) said Everstream's technology has already enabled it to avoid disruption at global freight ports to deliver vehicles to clients. In a post-pandemic world full of supply chain snarls, a growing group of startups and established logistics firms have created a multi-billion dollar industry to apply AI and machine learning to help businesses minimise disruption. JLR was hit particularly hard by a global shortage of semiconductor chips that forced major carmakers to curtail production of certain models.
Persons: JLR, Barbara Bergmeier, Nick Carey, Barbara Lewis Organizations: India's Tata Motors, Everstream, Thomson
☆ Jaguar Land Rover recalling I-PACE vehicles in US over fire risks
  + stars: | 2023-05-31 | by ( ) www.reuters.com   time to read: 1 min
WASHINGTON, May 31 (Reuters) - Jaguar Land Rover (JLR) said it is recalling nearly 6,400 I-PACE vehicles in the United States due to fire risks because the high-voltage electric vehicle battery may overheat. JLR, which is owned by India's Tata Motors (TAMO.NS), said the battery energy control module software will be updated and battery modules will be replaced as necessary in certain 2019 through 2024 model year vehicles. The automaker has reports of eight U.S. vehicle fires but no accidents or injuries. Reporting by David Shepardson; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
Persons: India's Tata, David Shepardson, Jason Neely Organizations: Rover, PACE, India's, India's Tata Motors, Thomson Locations: United States
☆ Jaguar Land Rover plans to invest 15 bln pounds in electric push
  + stars: | 2023-04-19 | by ( ) www.reuters.com   time to read: 1 min
April 19 (Reuters) - British luxury carmaker Jaguar Land Rover (JLR) on Wednesday said it plans to invest 15 billion pounds ($18.65 billion) over the next five years to expand its electric-vehicle offerings. JLR, which is owned by India's Tata Motors (TAMO.NS), added that its Halewood plant in Merseyside, UK, will become an all-electric manufacturing facility. ($1 = 0.8042 pounds)Reporting by Chandini Monnappa in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
☆ India's Tata Motors jumps to a 7-month high on strong Q4 JLR sales
  + stars: | 2023-04-10 | by ( ) www.reuters.com   time to read: +2 min
Tata Motors's shares were the top gainer on India's bluechip Nifty 50 index (.NSEI), which was up 0.33%, and pushed the auto index (.NIFTYAUTO) up 1.16%. Tata Motors' global wholesales rose 8% in the quarter. JLR's sales contribute nearly 60% of Tata Motors's revenue from operations and the British automaker's strong sales in the October-December quarter had lifted the group to its first profit in two years. "The market is underestimating JLR's EBIT (earnings before interest and tax) margin potential from upcoming phase of wholesale volumes," Goldman Sachs said in a note. Tata Motors's stock hit a high of 473.30 rupees on the day, before giving up some gains to trade up about 6% at 463.75 rupees in early afternoon trading.
☆ India's Tata Motors in talks to raise $1 bln via stake sale in EV business - Report
  + stars: | 2023-02-23 | by ( ) www.reuters.com   time to read: +2 min
The company plans to sell a significant minority stake, the newspaper report added, eyeing a valuation of about $10.5 billion. The funds and investors include the UAE-based Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company, the Saudi Arabia-headquartered Public Investment Fund, Singapore's Temasek Holdings, and KKR and General Atlantic. Tata Motors and some of the companies did not immediately respond to Reuters' request for comment. Tata Motors plans to use the bulk of the proceeds to retire a part of its outstanding debt and infuse a small portion as primary equity in the EV business, the report said. Tata Motors has outlined plans to expand its electric car portfolio with new models and higher price points.
☆ Jaguar Land Rover opens three European self-driving tech hubs
  + stars: | 2023-02-21 | by ( Nick Carey | ) www.reuters.com   time to read: +1 min
[1/2] Jaguar Land Rover unveils the new Jaguar F-Type model during its world premiere in Munich, Germany, December 2, 2019. REUTERS/Michaela RehleLONDON, Feb 21 (Reuters) - Luxury carmaker Jaguar Land Rover said on Tuesday it is opening three new engineering hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley artificial intelligence company Nvidia (NVDA.O). The hubs in Munich, Bologna and Madrid will develop self-driving systems for JLR's next generation of luxury vehicles. JLR already has six global tech hubs the United States, China and Europe. The partnership with Nvidia gives JLR a well-funded ally as it tries to catch up with Tesla Inc (TSLA.O) and other luxury vehicle rivals in a digital technology arms race.
☆ India's Tata Motors surges 8% on first quarterly profit in 2 years
  + stars: | 2023-01-27 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Jan 27 (Reuters) - Shares of Tata Motors Ltd (TAMO.NS), India's No.3 carmaker by volume, rose as much as 8.2% to a more-than-four-month high on Friday after the company reported its first quarterly profit in two years. Tata Motors swung to a surprise profit of 29.58 billion rupees in the October-December quarter, from a loss of 15.16 billion rupees a year before. Improving semiconductor supplies and rising demand helped Tata Motors' luxury car unit, Jaguar Land Rover (JLR), turn profitable. Goldman rates Tata Motors' stock "neutral", while Nomura rates it "buy", which is also the average rating of the 30 analyst covering the stock, according to Refinitiv data. Bajaj Auto Ltd (BAJA.NS), among India's top motorcycles and three-wheelers maker, also reported a bigger-than-expected quarterly profit due to strong domestic demand and higher prices.
☆ India's Tata Motors jumps 6% on first quarterly profit in 2 years
  + stars: | 2023-01-27 | by ( ) www.reuters.com   time to read: 1 min
BENGALURU, Jan 27 (Reuters) - Shares of Indian Tata Motors Ltd (TAMO.NS) rose as much as 6% on Monday after the carmaker reported its first quarterly profit in two years on the back of strong demand and as its luxury car unit, Jaguar Land Rover (JLR), turned profitable. Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
☆ Tata considers India, Europe for EV cell manufacturing plants
  + stars: | 2023-01-12 | by ( Aditi Shah | ) www.reuters.com   time to read: +2 min
GREATER NOIDA, India, Jan 12 (Reuters) - Tata group is considering setting up plants in India and Europe to produce battery cells for electric vehicles (EV), the chief financial officer of its auto unit told Reuters in an interview. With total sales of 50,000 electric cars to date, India's Tata Motors dominates the country's EV market and has outlined plans to launch 10 electric models by March 2026. The company expects electric models to make up a quarter of its total sales by 2025 from around 8% now. Localising cell manufacturing for EV batteries is key to increasing local components in electric cars and will help the automaker develop a local supply chain too, Tata Motors' P.B. Balaji said the investment in cell manufacturing will be made by its parent company Tata Sons but did not elaborate on the quantum or timeline.
☆ India's Tata Motors looks to sell part stake in Tata Technologies via IPO
  + stars: | 2022-12-12 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Dec 12 (Reuters) - Indian automaker Tata Motors Ltd (TAMO.NS) said on Monday it was exploring the sale of a portion of its stake in Tata Technologies through an initial public offering (IPO). Tata Technologies, a product engineering and digital services company, was founded in 1989 as a unit of Tata Motors. The automaker held a 74.43% stake in the company as of March 31, the latest annual report showed. Tata Motors in 2018 called off a deal to sell an about 43% stake in Tata Technologies to private equity firm Warburg Pincus for $360 million, citing delays in securing regulatory approvals and performance not meeting thresholds. The 2022 fiscal annual report showed increased sales at Tata Technologies drove a 46% jump in Tata Motors' revenue from other operations.
☆ Carmaker Jaguar Land Rover looks to hire hundreds of laid off tech workers
  + stars: | 2022-11-18 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Nov 18 (Reuters) - Laid off tech industry workers in Britain could find a new home at Jaguar Land Rover (JLR), as the 100-year-old luxury carmaker looks to hire hundreds of engineers to help develop electric car technology. The carmaker, which wants to become an "electric-first" business from 2025, on Friday announced a jobs portal for displaced tech workers to fill 800 roles spanning self-driving, electrification, machine learning and data science. The hiring drive comes after thousands of layoffs in recent weeks at U.S. tech firms including Twitter, Meta (META.O) and Amazon, some of which have offices in London and Dublin, Ireland. JLR last year announced an electrification strategy under which all Jaguar cars would be fully electric by 2024 and an electric option would be offered across its entire portfolio including Land Rover. Reporting by Sachin Ravikumar Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
☆ Tata Motors' JLR says CEO Bollore to resign
  + stars: | 2022-11-16 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Nov 16 (Reuters) - Tata Motors (TAMO.NS)-owned luxury carmaker Jaguar Land Rover said on Wednesday Chief Executive Officer Thierry Bollore would resign due to personal reasons after more than two years in the role. Adrian Mardell will take over as CEO on an interim basis, JLR said. A 32-year JLR veteran, Mardell is currently a member of the company's executive board. JLR said earlier this month its second-quarter loss before tax narrowed to 173 million pounds ($206.06 million), while revenue rose 36% from a year earlier. The division's performance is key to India's Tata Motors as it contributes nearly 60% to the group's revenue from operations.
☆ INDIA STOCKS Indian shares set to open lower ahead of US inflation data
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Nov 10 (Reuters) - Indian shares are expected to open a tad lower on Thursday, with investors bracing for crucial U.S. inflation data that will provide clues about the severity of Federal Reserve's future interest rate hikes. Foreign institutional investors bought net of 3.87 billion Indian rupees ($47.51 million) equities on Wednesday, while domestic investors sold 10.60 billion rupees of shares, as per provisional data available with the National Stock Exchange. ** Indian port operator Adani Ports (APSE.NS) acquired a 49.38% stake in petroleum logistics service provider Oiltanking for 10.5 billion rupees. ** Indian sugar mills are aggressively signing export deals, contracting for about 1 million tonnes just four days after New Delhi approved exports. read more($1 = 81.4650 Indian rupees)Reporting by Nallur Sethuraman in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.
☆ India's Tata Motors to delist American Depositary Shares from January
  + stars: | 2022-11-09 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Nov 9 (Reuters) - Indian automaker Tata Motors (TAMO.NS) said on Wednesday it plans to delist its American Depositary Shares (ADS) from January, roughly around 18 years since they first started trading. Tata Motors's stock remains listed on the BSE and the National Stock Exchange of India. ADSs are U.S. dollar-denominated shares of a non-U.S.-based company that trade on U.S. stock exchanges. Tata Motors' ADSs were first issued in 2004. Reporting by Chris Thomas in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
☆ Jaguar Land Rover sets out to train workers, dealers for EV world
  + stars: | 2022-09-27 | by ( Nick Carey | ) www.reuters.com   time to read: +2 min
The shift to EVs means carmakers need to provide fresh skills to workers trained to make and service fossil-fuel models. EV sales have risen sharply in Europe over the last two years and looming fossil-fuel car bans mean more are coming. JLR's luxury Jaguar brand will be entirely electric by 2025 and the carmaker will launch electric versions of its entire line-up by 2030. JLR has developed its own training materials in cooperation with the University of Coventry and the University of Warwick. "Plant employees at all levels will require training to ensure they can work safely alongside the high voltage systems," JLR said.
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