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Tata Sons has named Cyrus Mistry as its next CEO, as current CEO Ratan Tata prepares to retire. The unmarried, childless Tata named Mistry as CEO of the holding company responsible for Tata’s numerous divisions, among them their automotive sector which owns Jaguar and Land Rover, along with the namesake Tata Motors brand.
“The appointment of Cyrus P. Mistry as deputy chairman of Tata Sons is a good and far-sighted choice. He has been on the board of Tata Sons since August 2006 and I have been impressed with the quality and caliber of his participation, his astute observations and his humility,” said Tata, in a statement.
Mistry’s father is Tata’s largest individual shareholder, with an 18 percent stake in the Indian conglomerate. He is currently head of another Indian corporation, the Shapoorji Pallonji group, and will assume full responsibilities in December, 2012 when Tata steps down.
[Source: Automotive News]
Nearly 13 years ago today, Britain handed over sovereignty of Hong Kong to the Chinese government, ending a 99-year lease on the territory, and signaling the end of a British presence in China.
Now, reports from various news agencies say that India’s Tata Motors is looking at building Jaguar and Land Rover assembly plants in China. Like all car factories in China, this one is expected to be a joint venture between a local (read: state owned) automaker and Tata. Carl-Peter Forster, the Tata executive responsible for the British brands said that demand is strong enough to support a Chinese assembly plant, and the construction of a new factory won’t harm any jobs in Britain.
[Source: Inside Line]
India’s Tata Motors is back in the black after rising demand for the Land Rover and Jaguar cars, as well demand in India for Tata products. The Tata group posted an overall profit of $543 million, compared to last year’s loss of $535 million. Tata was able to beat analyst expectations of a $321 million profit, thanks in part to Jaguar and Land Rover raking in their own profit of $46 million.
Land Rover recently fired 2,200 workers and hired a new manager away from General Motors Europe to help them back on the road to profitability. However, analysts are still skeptical about the economic conditions in Europe, and whether they are conducive to a recovery for the British luxury maker.
“Europe is in doldrums and that is a big worry for Tata Motors since it is a big market for Jaguar Land Rover,” said Umesh Karne, an analyst at BRICS Securities Ltd in Mumbai. “Until Europe stabilizes, Jaguar Land Rover will be under pressure.”
[Source: Automotive News]
JLR posted a $1.11 billion loss last year but that won’t stop Tata from making big changes, the first of which is an initiative to reduce the weight of all new vehicles.
“JLR is planning to have all its future cars constructed with light weight aluminum bodies resulting in considerable savings in weight and reduction in CO2 emissions,” said CEO Ratan Tata in his company’s annual report. Weight is certainly something Land Rovers could lose, as some models are currently approaching the 6,000 lb mark.
Jaguar’s new 2010 XJ (pictured above) not only makes use of aluminum body panels but an all aluminum frame and is the first of a new line of Jaguars to be launched by Tata. The lighter package requires a less powerful (and more fuel-efficient) engine, as well as smaller and less expensive brakes to stop.
Considering the massive weight of Ranger Rovers and the significant surface area that their sheet metal has to cover, an aluminum body would make a noticeable difference. [Source: Motoemag]
Indian automaker Tata has confirmed that it will bring the Nano to the U.S. in the next three years. The Nano, launched officially several months ago in India, holds the title of being the world’s cheapest car with base models priced at just $2,000.
David Good, a U.S. representative for the Indian automaker, which also owns Jaguar and Land Rover, confirmed statements made by company CEO Ratan Tata at Cornell University earlier this week.
“It might be two years and six months,” Good said in an interview with Automotive News.
Powered by a 624cc 2-cylinder engine that makes just 35hp, the Nano comes with a 4-speed gearbox with full power available at 5250 rpm and full torque (35 ft-lbs) on tap at 3000 rpm. Tata claims an average fuel-economy rating of 55.5 mpg according to the Automotive Research Association of India (ARAI), giving it the highest rating of any gasoline car in India.
The Nano is also tiny, measuring just 10.2-feet long, by 4.9-feet wide and 5.3-feet high.
The Nano “will meet all emissions and crash standards,” Tata said. The current model for India features a reinforced passenger compartment, crumple zones, intrusion resistant doors, as well as the mandatory seat belts.
Tata also plans to bring a version of the Nano to Europe in 2011.
[Source: Automotive News]