Tata Motors to set up new subsidiary for its commercial vehicle division

5 Jun 2024 , 09:01 AM

On Tuesday, Tata Motors said that its board has given the go-ahead to establish a wholly-owned subsidiary to handle its commercial vehicle division. TML Commercial Vehicles Ltd (TMLCVL) is the suggested name of the new division put out by the firm.

According to a regulatory filing, Tata Motors, the firm is proposed to be a wholly-owned subsidiary of the company.

To better capitalise on development prospects, Tata Motors announced in March of this year that its commercial and passenger car segments would be demerged into two distinct listed corporations.

As part of the effort, the passenger vehicle business, which includes electric cars, Jaguar Land Rover, and its related investments, will be under a distinct listed organisation, while the CV business and its connected investments will be housed in one entity.

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