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After record loss, Tata Motors to scout for partner in car business

Company embarks on aggressive deleveraging exercise even as it has cut capex for India business this fiscal

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The losses at the India business were driven by the more profitable commercial vehicle business where a negative operating leverage singed earnings.

Shally Seth Mohile Ram Prasad Sahu Mumbai

3 min read Last Updated : Jun 16 2020 | 1:07 AM IST

Tata Motors has swung to one of the steepest quarterly losses since the December quarter of 2018-19. To ride out the turmoil caused by Covid-19 disruptions in its Indian as well as UK subsidiary Jaguar Land Rover Automotive, the firm said it would review its business to save Rs 15,000 crore for the consolidated entity in FY20-21.

The company, which is in the process of spinning off its domestic passenger vehicle business into a wholly-owned subsidiary, also said it was looking for a strategic partner and was in talks with automakers for the same. The company took a write-down of Rs

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