Tata Motors creates TML Commercial Vehicle Ltd and merges Tata Motors Finance with Tata Capital, focusing on core businesses and emerging technologies.
Tata Motors is creating a wholly-owned subsidiary, TML Commercial Vehicle Ltd (TMLCVL), for its commercial vehicle business, and will merge Tata Motors Finance Ltd (TMFCL) with Tata Capital Ltd (TCL) through an NCL scheme of arrangement. The moves align with Tata Motors' objective of exiting non-core businesses and focusing on emerging technologies and products. TCL aims to serve the fast-growing commercial vehicle (CV)/passenger vehicle (PV) financing segments with innovative products and digital offerings. Tata Motors plans to hold a 4.7% stake in the merged entity.
June 04, 2024
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