Tata Motors reiterates commitment towards electrification in AGM

As per media reports, Tata Motors (TML) informed exchanges about price hike to the tune of 0.55% to be taken in PV space from July 9, 2022 primarily to mitigate rising input cost

In a regulatory exchange filing, Tata Motors informed exchanges about retail sales at JLR for Q1FY23 at 78,825 flat QoQ. Wholesale volumes for Q1FY23 (excluding China JV) were at 71,815 units, down 6% QoQ

In a regulatory exchange filing, Tata Motors (TML) informed exchanges about a price hike to the tune of 1.5-2.5% to be taken in the CV space from July 1, 2022 primarily to mitigate rising input cost

The company has entered into an agreement with Blu-Smart Electric Mobility (a ride aggregator start-up primarily serving Delhi NCR region) for supplying 10,000 EVs (XPRES T EV). Cars would be having two types of density i.e 21.5 Kwh & 16.5 Kwh providing 213 km & 165 km of certified range and can be charged from 0-80% in 90-110 minutes and is specially developed for fleet use. This order is in additon to 3500 units order received from Blu-Smart Electric Mobility in October 2021

In a regulatory exchange filing, Tata Motors informed exchanges about MoU signed by Tata Passenger Electric Mobility (TPEML), a subsidiary of Tata Motors, and Ford India Pvt Ltd (FIPL), with the Government of Gujarat (GoG) for the potential acquisition of FIPL’s Sanand vehicle manufacturing facility including (i) Land & Buildings (ii) Vehicle Manufacturing Plant, Machinery and Equipment and (iii) transfer of all eligible employees of FIPL Sanand’ s vehicle manufacturing operations. FIPL will operate its Powertrain manufacturing facilities by leasing back the land and buildings of the Powertrain unit from TPEML. This MOU will be followed by signing of the definitive transaction agreements between TPEML and FIPL over the next few weeks

Media reports suggest the Chinese government has set aside 60 billion yuan (~US$ 9 billion) as reduction in the purchase tax for PV in phased manner (among other incentives for other sectors), which may extend till end of this year to boost demand

Tata motors unveiled pricing of Nexon EV max (40.5 Kwhr battery, certified range 437 km) with stating at ₹17.74 lakhs i.e. ~₹1.5 lakhs expensive than the regular EV variant (30.2 Kwhr battery, certified range 312 km). Nexon EV max also comes with an optional 7.2 Kw AC fast charger at an additional cost of ₹ 50,000 which can be installed either at home or workplace (reduces charging time to 6.5 hrs).

In a regulatory exchange filing, Tata Motors informed exchanges about wholesale volumes of its foreign subsidiary JLR (excluding China JV) for Q4FY22, which came in at 76,500 units up ~11% QoQ. Retails, however were down 1% QoQ for the quarter at 79,000 units. The management felt that volumes continue to be impacted by chip shortages with gradual improvement in supplies and expect the gradual improvement to continue, going forward, into the next financial year

Tata Motors has received an institutional order amounting to 1,300 units in the commercial vehicle space (M&HCV and I&LCV category) from VRL Logistics

Tata Motors yesterday unveiled its new concept E-SUV i.e. Tata Curvv, with commercial launch expected in about two years

For March 2022, Maruti Suzuki (MSIL) sales volume jumped 3.9% MoM at 1.66 lakh units. Tata Motors reported similar reading with volumes up 5.7% MoM at 42,466 units. While M&M's volumes stood muted and came in largely flat MoM at 27,603 units