Latest news with #N.Chandrasekaran
Time of India
6 hours ago
- Automotive
- Time of India
Tata Motors to accelerate EV push; JLR tariff impact mitigated
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Mumbai: Tata Motors chairman N. Chandrasekaran on Friday told shareholders that the company is accelerating its electric vehicle (EV) strategy, even as it closely monitors supply chain and geopolitical risks that could affect at the company's 80th annual general meeting, Chandrasekaran said, 'We expect to reach 30% EV penetration well before 2030. We already have a strong portfolio—with Nexon EV , Punch EV, Tiago and Tigor—and we have several more models in the pipeline.' EVs accounted for 15% of Tata Motors' passenger vehicle sales in the last fiscal the auto maker continues to lead India's EV market with a more than 50% share, it has fallen more than more than 85% two years ago, as rivals such as Mahindra & Mahindra, Hyundai Motor India , and MG Motor India step up their offerings.'Yes, competition has increased, but we remain fully committed and have a strong runway,' Chandrasekaran said, without also addressed concerns around sourcing rare earth magnets used in EVs amid prevailing trade tensions globally. 'We are not facing any issues. We are able to source the magnets we need and have the right level of inventory,' he said. 'We're also working with the government on alternative resources. This is something we are watching very carefully.'On the proposed increase in US tariffs on UK-manufactured cars, which would impact unit Jaguar Land Rover , Chandrasekaran said, 'If the tariffs had gone to 27.5%, the impact would have been £1.6 billion. With the UK-US trade deal , that's coming down to 10%, and JLR's mitigation steps will reduce the impact to around £600 million.'He confirmed Tata Motors' participation in the government's EV bus programmes through its dedicated mobility business, and said the automaker is also testing 12 hydrogen buses and trucks. However, he cautioned, 'The cost of production and operations for hydrogen is still very high. This won't scale in the near term.'Chandrasekaran reaffirmed that the demerger of Tata Motors' passenger vehicle and commercial vehicle businesses remains on track, with both units expected to list separately in the December quarter. 'All three businesses have strong balance sheets and cash flows. There is no need for large-scale debt unless a strategic opportunity arises,' he said.
The Hindu
a day ago
- Business
- The Hindu
Chandrasekaran skips TCS annual general meeting amid Air India crisis
Tata Sons Chairman N. Chandrasekaran on Thursday (June 19, 2025) skipped the Annual General Meeting of Tata Consultancy Services (TCS), marking his absence from a shareholder gathering of the group for the second consecutive day. TCS' Company Secretary Yashaswin Sheth informed shareholders of the largest IT services company in India that Chairman Chandrasekaran will not be able to attend the Annual General Meeting (AGM) due to "some exigencies". Mr. Chandrasekaran could not attend the Tata Consumer Products AGM on Wednesday (June 19, 2025), reportedly because of his focus on the tragic crash of group company Air India's plane from Ahmedabad to London Gatwick last week, which has resulted in the loss of at least 270 people, including 241 passengers and crew of the aircraft. It can be noted that Mr. Chandrasekaran was elevated to Tata Sons as the chairman in 2017, after being the CEO of TCS for eight years. Mr. Sheth said the company directors have elected independent director Keki Mistry to preside over as the chairman for the AGM. "This is a very difficult time for us at the Tata Group. We are all deeply saddened. This is an unimaginable tragedy that has resulted in so many losses of lives. Words can be of no consolation right now," Mr. Mistry, a finance industry veteran, said. "Our thoughts are with the families and loved ones of the people who have lost their lives. Tata Group stands in solidarity with the affected people in these challenging times," he added. The TCS board paid a tribute to all the victims of the crash by observing a minute's silence before beginning the proceedings of the meeting.
Dubai Eye
2 days ago
- Business
- Dubai Eye
Air India to cut international flights on widebody aircraft by 15%
Air India said on Wednesday it will cut international operations on its widebody aircraft by 15 per cent for the next few weeks, citing ongoing safety inspections and operational disruptions following last week's deadly crash of one of its Boeing 787 Dreamliners. Authorities continue to investigate the crash of flight AI171, which killed 241 people and marked the world's deadliest aviation disaster in a decade. The airline said in a statement that inspections had been completed on 26 of its 33 Boeing 787-8 and 787-9 aircraft, and those 26 have been cleared for service. The cuts, effective until at least mid-July, were being implemented "to ensure stability of operations, better efficiency and minimise inconvenience to passengers," the Tata Group-owned airline said. The remaining planes will be checked in the coming days and additional checks are also planned for its Boeing 777 fleet, Air India added. Flight AI171, bound for London's Gatwick Airport, crashed shortly after takeoff from Ahmedabad, killing all but one on board and about 30 people on the ground. Earlier on Wednesday, Air India Chairman N. Chandrasekaran said the flight that crashed had a clean engine history. In an interview with Indian broadcaster Times Now, Chandrasekaran said Air India flight 171's right engine was new and installed in March 2025, and that the left engine was last serviced in 2023. The Dreamliner was fitted with GE Aerospace's GEnx engines. Air India also cited geopolitical tensions in the Middle East and "night curfews in many European and East Asian airspaces" as contributing factors behind flight cancellations, which have totaled 83 over the past six days.
ARN News Center
2 days ago
- Business
- ARN News Center
Air India to cut international flights on widebody aircraft by 15%
Air India said on Wednesday it will cut international operations on its widebody aircraft by 15 per cent for the next few weeks, citing ongoing safety inspections and operational disruptions following last week's deadly crash of one of its Boeing 787 Dreamliners. Authorities continue to investigate the crash of flight AI171, which killed 241 people and marked the world's deadliest aviation disaster in a decade. The airline said in a statement that inspections had been completed on 26 of its 33 Boeing 787-8 and 787-9 aircraft, and those 26 have been cleared for service. The cuts, effective until at least mid-July, were being implemented "to ensure stability of operations, better efficiency and minimise inconvenience to passengers," the Tata Group-owned airline said. The remaining planes will be checked in the coming days and additional checks are also planned for its Boeing 777 fleet, Air India added. Flight AI171, bound for London's Gatwick Airport, crashed shortly after takeoff from Ahmedabad, killing all but one on board and about 30 people on the ground. Earlier on Wednesday, Air India Chairman N. Chandrasekaran said the flight that crashed had a clean engine history. In an interview with Indian broadcaster Times Now, Chandrasekaran said Air India flight 171's right engine was new and installed in March 2025, and that the left engine was last serviced in 2023. The Dreamliner was fitted with GE Aerospace's GEnx engines. Air India also cited geopolitical tensions in the Middle East and "night curfews in many European and East Asian airspaces" as contributing factors behind flight cancellations, which have totaled 83 over the past six days.
AsiaOne
2 days ago
- Business
- AsiaOne
Air India to cut international flights on widebody aircraft by 15%, Asia News
Air India said on Wednesday (June 18) it will cut international operations on its widebody aircraft by 15 per cent for the next few weeks, citing ongoing safety inspections and operational disruptions following last week's deadly crash of one of its Boeing 787 Dreamliners. Authorities continue to investigate the crash of flight AI171, which killed 241 people and marked the world's deadliest aviation disaster in a decade. The airline said in a statement that inspections had been completed on 26 of its 33 Boeing 787-8 and 787-9 aircraft, and those 26 have been cleared for service. The cuts, effective until at least mid-July, were being implemented "to ensure stability of operations, better efficiency and minimise inconvenience to passengers," the Tata Group-owned airline said. The remaining planes will be checked in the coming days and additional checks are also planned for its Boeing 777 fleet, Air India added. Flight AI171, bound for London's Gatwick Airport, crashed shortly after takeoff from Ahmedabad, killing all but one on board and about 30 people on the ground. Earlier on Wednesday, Air India Chairman N. Chandrasekaran said the flight that crashed had a clean engine history. In an interview with Indian broadcaster Times Now, Chandrasekaran said Air India flight 171's right engine was new and installed in March 2025, and that the left engine was last serviced in 2023. The Dreamliner was fitted with GE Aerospace's GEnx engines. Air India also cited geopolitical tensions in the Middle East and "night curfews in many European and East Asian airspaces" as contributing factors behind flight cancellations, which have totalled 83 over the past six days. [[nid:719236]]
