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Tata Motors is said to be looking out for new partners for its Passenger Vehicle (PV) business. The company is planning to collaborate with another automaker to help accelerate its growth plans for the next decade.
With the partnership in the PV business, Tata Motors will also be able to invest huge amounts to develop newer technologies and adapt to regulations, all while shortening the product life cycles.
In an interview with PTI, Shailesh Chandra - President, Passenger Vehicles Business Unit (PVBU), Tata Motors said,
"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."
"The collaboration would also help in reducing product lifecycles and enhance new product launch intensity. All this requires huge investments and agility is also the key. So this is something which we are actively looking into."
The board members of the company had earlier this year approved the proposal to form a separate entity for its passenger vehicle business. As per these plans, the new entity will bring together all the cars, electric vehicles, IP, employees and other relevant assets under one umbrella.
Chandra also added, "There are no specific timelines..as far as the subsidiarisation process is concerned, converting the business into a separate legal entity, we would like to accelerate in a year and as far as partner is concerned it is an active work which we will continue to work on."
The move to search for partners in the passenger vehicle segment by Tata Motors is not something new. Many automakers around the world are working together to develop newer technologies, reduce costs and achieve greater results.
Thoughts On Tata Motors Looking For Partners In PV Business
Tata Motors is the latest among a long lineup of global automakers open to collaborating with other manufacturers to work on shared mobility. With the auto industry shifting towards EVs in the future, it makes sense for brands to collaborate and develop new platforms, technologies and products, beneficial for both partners involved.