India’s Tata Motors to separate passenger vehicles division

BENGALURU (Reuters) – Indian automaker Tata Motors Ltd said on Friday it would spin out its passenger vehicles business into a separate unit within the company, as a coronavirus pandemic disrupts production and demand for cars.

The decision was the company’s first step to secure “mutually beneficial strategic alliances” for the domestic passenger vehicles business, the company said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/6e6fec40-f0f7-4000-9d8f-15ab0b582fb2.pdf.

(Reporting by Derek Francis in Bengaluru; Editing by Shounak Dasgupta)