Finance Minister Nirmala Sitharaman had recently blamed the auto industry slowdown on Millenials using ride-hailing services like Ola and Uber instead of buying new cars.
Aiming towards zero fatality and emissions, Tata Motors-owned Jaguar Land Rover will launch the I-Pace all-electric SUV and a range of hybrid vehicles in India.
Hoping to avoid any fallout from a no-deal Brexit, Jaguar Land Rover has joined BMW and Toyota in deciding to stop production in their UK plants in November.
More than the final outcome of Brexit, it's the uncertainty that is hurting JLR in Britain and continental Europe, which is the largest source market for the millions of components that JLR procures annually.
Four famous British-born but Foreign-owned car brands, German-held Bentley and Mini, Indian-backed Jaguar Land Rover, and Chinese-controlled Lotus, have outlined plans for purely electric models.
Tata Motors owned Jaguar Land Rover, on Tuesday said it will receive a GBP 500 million guarantee from from the UK Export Finance (UKEF), the UK's export credit agency.
The funding will be provided through the UK's Advanced Propulsion Centre (APC) enabling JLR and others to drive the development of low-carbon propulsion technologies and their supply chains.
Tata Motors is now gearing up for the launch of its Harrier SUV in early 2019.
The rupee made a cautious recovery of 18 paise to 73.88 against the dollar in early trade.
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