Charging ahead
Business Standard|June 01, 2024
Chandra tells SOHINI DAS why he is determined to focus on net carbon zero rather than lose track to distractions
Charging ahead

In the middle of the first Covid-19 lockdown in who had recently taken the reins of the passenger vehicle arm of Tata Motors after finding success with the electric vehicle (EV) business, set out to meet the company's dealers.

"In my first meeting with them, I was literally ragged," remembers Chandra, the managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. He found that only 30 per cent of the dealerships were making money at that time. "Then why were the remaining 70 per cent sticking around?" he wondered, although he knew the answer. "The fundamentals were right we had a strong network of loyal dealers, customers, and great products," says Chandra.

So, he created a list of 52 issues that plagued the network. Tata Motors dialled up its ad campaign with some cheeky commercials, and in August 2020, increased the price of its models by ₹12,000, passing on the benefit to the dealers who were exempted from participating in consumer schemes.

Soon, dealer incomes went up by almost 50 per cent. Chandra had won one battle.

The next hurdle was to ramp up production and ensure the availability of components. This was right before the semiconductor crisis hit the world. Chandra got the ball rolling with some out-of-the-box ideas. Then he went to the chairman, N Chandrasekaran, with a plan to enhance capacities.

Sitting at the multicuisine restaurant Tiqri at Taj Santacruz, Mumbai, Chandra says handling the EV business gave him the muchneeded agility and a startup to experiment. His office has chosen the venue, an openair restaurant offering an eclectic mix of world cuisines and traditional favourites.

A small eater, Chandra hardly nibbles on the avantgarde take on pani puri that the hostess encourages us to try. I take a bite, and a sip of the tamarind water served in a shot glass.

This story is from the June 01, 2024 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the June 01, 2024 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS STANDARDView All
Business Standard

Ulips a good fit for investors who panic during mkt declines

The Insurance Regulatory and Development Authority of India (Irdai) has asked life insurance companies not to advertise Unit-Linked Insurance Plans (Ulips) as investment products.

time-read
3 mins  |
June 27, 2024
Investors bank on ICICI after mcap tops $100 bn
Business Standard

Investors bank on ICICI after mcap tops $100 bn

Shares of ICICI Bank have risen 31.3 per cent in the last one year, only a little behind Axis Bank, whose stock up 34 per cent.

time-read
2 mins  |
June 27, 2024
Business Standard

Bombay HC asks Chandra to respond to Sebi summons

The Bombay High Court on Wednesday directed Essel Group Chairman Subhash Chandra to furnish documents and information sought by the Securities and Exchange Board of India (Sebi) in its summons in an alleged fund diversion case involving Zee Entertainment Enterprises.

time-read
1 min  |
June 27, 2024
Business Standard

Loan growth may drive further gains for LIC Housing

LIC Housing Finance (LICHF) delivered a healthy FY24 with improvements in net interest margin (NIM) and credit costs and an improved return on assets of 1.7 per cent compared to an average of 1.3 per cent between FY14-FY23.

time-read
2 mins  |
June 27, 2024
Business Standard

Promoter entity sells 2.6% in Vedanta to trim debt

Finsider International Company, a promoter group entity, sold its entire 2.63 per cent shareholding in the domestic miner Veda on Wednesday.

time-read
1 min  |
June 27, 2024
Sebieases 'trading plan' norms for insiders
Business Standard

Sebieases 'trading plan' norms for insiders

In a breather to senior executives of listed companies, the Securities and Exchange Board of India (Sebi) has amended Prohibition of Insider Trading (PIT) regulations to provide flexibility in the \"trading plan\" that allows insiders to deal in their shares.

time-read
1 min  |
June 27, 2024
Business Standard

Quant MF CEO tells investors not to fall prey to narratives

Says net ₹1,398 crore withdrawn in last few days

time-read
2 mins  |
June 27, 2024
Heavyweights do heavy lifting
Business Standard

Heavyweights do heavy lifting

RIL, ICICl Bank spur indices to new highs

time-read
2 mins  |
June 27, 2024
Business Standard

Labour ministry seeks report from TN govt

The Ministry of Labour and Employment on Wednesday said it has sought a report from the Tamil Nadu labour department, amid reports that married women are not being allowed to work at Foxconn India's Apple iPhone unit in Sriperumbudur.

time-read
1 min  |
June 27, 2024
Business Standard

Will take 'appropriate' action in warehouse case: Amazon

After accepting lapses at its warehouse in Haryana's Manesar, Amazon India has claimed to have started \"disciplinary proceedings\" against those who allegedly tried to stop workers from taking water and toilet breaks.

time-read
1 min  |
June 27, 2024