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Announcement
Home >> Markets >> Equity >> News >> Announcement Detailed News
Tata Motors to buyout JV partner in JT Special Vehicles
(15 Jun 2020)
Tata Motors announced on 13 June 2020 that the company has signed an agreement to purchase the balance 50% shareholding from the joint venture partner, Jayem Automotive in JT Special Vehicles (JTSV), consequent to which JTSV will become a wholly owned subsidiary of the Company.

JTSV was formed in 2017 as a 50:50 joint venture between Tata Motors Ltd. and Jayem Automotives to develop high performance versions of TML passenger cars under the “JTP” Brand. The Tiago JTP and Tigor JTP that were launched in 2018, gained much appreciation for their styling and performance, forming a loyal follower base. However, the passenger car industry witnessed a challenging FY19-20, exacerbated with mandatory change in regulations and the current COVID-19 pandemic, which has impacted the demand in this niche category of vehicles. In light of this ongoing scenario, both Tata Motors and Jayem Automotives found it prudent to discontinue this venture. Tata Motors will continue to provide all requisite support and service to customers and users of Tiago JTP and Tigor JTP cars at its select dealerships, ensuring hassle free ownership.

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