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Tata Motors to carve out PV biz as separate entity, to see change of guard

The move is aimed at securing "mutually beneficial strategic alliances" that provide access to products, architectures, power trains, new-age technologies, and capital

Tata motors
The PV business has been a drag on the company for many years in terms of financial performance.

Tata Motors will spin off its passenger vehicle (PV) business, including electric vehicles (EVs), unit into a separate subsidiary through a slump sale, the company said in a notification to the stock exchanges on Friday. The move is aimed at securing "mutually beneficial strategic alliances" that provide access to products, architectures, power trains, new-age technologies, and capital, it added. The slump sale means the PV business will not carry any debt of the existing business. The business will also see a change of guard. Shailesh Chandra, president of EV and ...