The proposed demerger of passenger vehicle (PV) and commercial vehicle (CV) businesses would help secure synergy among electric vehicles (EVs), autonomous vehicles and vehicle software, Tata Motors chairman N Chandrasekaran told shareholders at the company's 79th annual general meeting (AGM) on Monday.
The company would continue to focus on "financial strength" and enhancing customer experience through differentiated strategies, he said.
Chandrasekaran told shareholders in the virtual AGM that the demerger would enable sharper execution of their well-differentiated strategies and further empower each business to pursue it purposefully with greater agility and accountability.
The Board has proposed the demerger of the company into two separate listed firms housing the CV business and its related investments in one entity and the PV business, including EV, JLR and related investments, in another entity. "This will lead each company to deliver a superior experience for customers, better growth prospects for employees and enhanced value for shareholders," Chandrasekaran said.
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