Tata Motors signs a MoU with the Government of Maharashtra to promote e-mobility in the State

As part of the World Environment Day celebrations, Tata Motors today signed a Memorandum of Understanding (MoU) with the State Government of Maharashtra for deployment of 1000 Electric Vehicles (EV) across its range of passenger and commercial vehicles in the State. Partnering with a Tata group company, Tata Power Ltd, Tata Motors will facilitate setting up of EV Charging Stations in the State. The MoU boosts the Maharashtra Electric Vehicle Policy 2018 in accelerating the adoption of EVs in Maharashtra. Guenter Butschek, CEO & MD, Tata Motors signed the MoU in the presence of the Chief Minister of Maharashtra, Shri Devendra Fadnavis. Additionally, the

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Tata Motors to sell its defense and aerospace portfolio to Tata Advanced Systems Limited to unlock their full potential

Tata Motors Ltd (TML), announced that its Board has approved, subject to the requisite regulatory and other approvals, the following: The sale of its defense business to Group entity Tata Advanced Systems Limited (TASL). This will not include the pure civilian vehicles which will continue to be with TML. TML will receive an upfront consideration of Rs 100 Crs, adjusted for capex incurred and changes in working capital in the intervening period until closure date, and a deferred consideration of 3% of the revenue generated from identified Specialized Defence Projects for upto 15 years from FY20 subject to a maximum of Rs 1750 Crs.

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