Auto Industry News

Shares of India's Tata Motors rose nearly 20% on Wednesday, a day after the Jaguar and Land Rover owner raised funds from private equity firm TPG and said it would invest over $2 billion in its electric vehicle (EV) business over the next five years.

Tata Motors will invest over $2 billion in its electric vehicle (EV) business over the next five years, a company executive said on Tuesday, after the Indian automaker announced it had raised funds from private equity firm TPG.

Jaguar Land Rover partnered with supply chain traceability provider Circulor, leading UK leather manufacturer Bridge of Weir Leather Company and the University of Nottingham to trial the use of traceability technology in the leather supply chain.

Under the new scheme, parts bought after the standard period of warranty and installed at an authorized workshop carry a lifetime warranty and this customer lifetime parts warranty is applicable on genuine parts bought from October 1, 2021.

The new Yuvo Tech+ tractor range is based on the company's next-generation Yuvo tractor platform. It comes powered by a new mZIP 3-cylinder engine and gets several industry-first features.

Volkswagen has added the newly launched Taigun to its subscription-based ownership programme. Now, customers to choose to get the Taigun on monthly subscription plan, which starts at Rs. 28,000.

Tata had entered into a binding agreement with TPG Rise Climate, under which the latter along with its co-investor ADQ, will invest $1 billion or Rs. 7,500 crore, in Tata Motors' new electric vehicle (EV) business unit.

The investment is the latest in a series of deals and projects that ZF has announced that are aimed at helping the German auto supplier bolster its expertise in autonomous-driving technologies.