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Bloomberg
Tata Motors Ltd, the Indian owner of Jaguar Land Rover, plans to separate its cars business from trucks and buses, as the company seeks partners for a unit slammed by the coronavirus outbreak and a global shift to electric vehicles.
Car sales in India fell for a 16th consecutive month in February, and that’s set to continue as the virus outbreak limits travel nationwide, and financing new vehicles becomes difficult. Automakers are cutting investment and production, and job losses in the sector, which employs more than 32 million people directly and indirectly, climbed to half a million even before the pandemic.
“The recent outbreak of Covid-19 virus increases the challenges faced by the business,†Tata Motors said in a statement.