Tata Motors declared its Q2 results today. The firm posted a net profit of Rs 3,764 crore. The firm's net profit rose 17.5 percent, sequentially.
Tata Motors CFO PB Balaji announced during the company’s earnings call that Tata Passenger Electric Mobility Ltd (TPEM) and Jaguar Land Rover Plc (JLR) have entered into a Memorandum of Understanding (MoU) for the licensing of JLR’s Electrified Modular Architecture (EMA) platform for a royalty fee for the development of TPEM’s ‘premium pure electric vehicles’ series ‘Avinya’.
"With a strong product pipeline, a seasonally stronger H2 and continued focus on cash accretive growth, we are confident of sustaining this momentum," said PB Balaji, group chief financial officer at Tata Motors
“We welcome India's FTA with the UK,” says Tata Motors CFO
"Cannot comment on government's plans to cut import duties on EVs until there is a formal announcement by the government,” he adds
(With inputs from agencies)