BENGALURU (Reuters) -Indian automaker Tata Motors plans to demerge into two separate listed companies to refine focus on the passenger and electric vehicle segments, it said in an exchange filing on Monday.
The commercial vehicles business and its related investments will be spun in one entity and the passenger vehicles (PV) businesses, including electric vehicles, Jaguar Land Rover and related investments, in another entity.
“The demerger is a logical progression of the subsidiarisation of PV and EV businesses done earlier in 2022 and shall further empower the respective businesses,” Tata Motors said in a statement.
(Reporting by Ashna Teresa Britto; Editing by Mrigank Dhaniwala)
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