Tata Motors is actively scouting for a partner for its passenger vehicle business in order to be ready for growth in the next decade which would see huge investments going into new technologies, regulations, according to a top company official.
The auto major is looking for collaboration even as the process to carve out passenger vehicle (PV) business as a separate standalone unit gathers steam. Earlier this year, the auto major's board had approved to form a separate entity which would house the PV business, including the EV vertical, by transferring relevant assets, IPs and employees directly relatable to the vertical for it to be fully functional on a standalone basis.
"The whole purpose of subsidiarisation is to actively look for a partner because this is a reality for all of us that a collaboration can unleash a bigger potential in the next decade which is going to see significant investments in new technologies and regulations," Tata Motors President Passenger Vehicles Business Unit (PVBU) Shailesh Chandra told.
The company recently achieved the production milestone of 4 million passenger vehicles in India since its inception. "Over the years, Tata Motors has produced legendary vehicles like the Indica, Sierra, Sumo, Safari and the Nano that have played a pivotal role in the shaping the country in its post-economic liberalisation era," the company said in a statement on Saturday.
"These iconic vehicles have broken barriers across categories in the Indian automobile sector. With the launch of the Tata Safari, the company pioneered the concept of a 'lifestyle SUV' to the industry, thereby creating the most aspirational four-wheeler for its customers."
As of today, its 'New Forever BS6' range consists of the Tiago, Tigor, Nexon, Harrier and the Altroz.
Besides, Tata Motors has been India's first car manufacturer to have received a 5-star Global NCAP rating for its model, the Nexon.
(With input from agencies)