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Tata Motors made a significant announcement concerning its restructuring plans. Its board approved splitting into two autonomous publicly traded companies: one specialising on commercial vehicle (CV), while another on passenger vehicle (PV) including electric vehicle (EVs) and JLR. The objective behind this action is to make each business unit more autonomous and create possible synergies.
This resolution was arrived at following strong performances displayed by different business units under Tata Motors recently. Since 2021, these segments have operated separately with separate CEOs for CVs, PV+EVs and JLR.
On financial basis, Tata Motors reported consolidated net profit of INR 7,025.11 Crore in Q3FY24 as compared to INR2,957.71 Crore reported during Q3FY23.Consolidated revenue from operations also witnessed a substantial growth rate of 25.07% YoY-
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