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Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

Jaguar Land Rover tech tracks brainwaves, heart, lungs

Jaguar Land Rover has been on a bit of a tech kick lately, and its latest is called Mind Sense, which uses biometric sensors to monitor and enhance the driver's level of alertness. Jaguar is installing brainwave sensors adapted from NASA into the steering wheel of an XJ sedan, along with medical-grade heart and respiratory sensors in the seat. Together, the sensors would determine if the driver is focused on the road, dozing off, merely thinking about something else, or if the driver's stress level suddenly peaks. The system would enable the vehicle to better prepare for an emergency, or for a future autonomous vehicle to hand off control to a better-prepared driver where needed. At the same time, JLR is also working on an enhanced infotainment system designed to reduce the amount of time the driver's hands are off the wheel and their eyes are off the road. The system determines which control they're reaching for on the display and engages it while their finger is still in mid-air, deploying an ultrasonic pulse to provide artificial haptic feedback without actually having to touch anything. Finally, a new haptic accelerator pedal is under development that could alert the driver to respond to an impending situation without overloading the senses with chimes and beeps. These latest developments follow the demonstration of a remote-control system installed on a Range Rover Sport, and follow in a long line of new technologies under development by the British automaker. JAGUAR LAND ROVER ROAD SAFETY RESEARCH INCLUDES BRAIN WAVE MONITORING TO IMPROVE DRIVER CONCENTRATION AND REDUCE ACCIDENTS - Jaguar Land Rover's pioneering Mind Sense project is researching measuring brainwaves to monitor driver concentration in the car - Researchers are developing a Wellness Seat in a Jaguar XJ which analyses the driver's heart rate and breathing to monitor driver health and stress - Touchscreens that predict which button you want to press as the user's fingers are in mid-air - to minimise time spent with eyes off the road - Jaguar Land Rover researchers use new haptic accelerator pedal to communicate hazards to the driver Whitley, UK: Jaguar Land Rover has revealed a range of new road safety technology research projects that are being developed to reduce the number of accidents caused by drivers who are stressed, distracted and not concentrating on the road ahead.

Jaguar XJ electric sedan debut pushed to late 2021

Jaguar's been testing prototypes of the coming all-electric XJ sedan for a while now, an example we saw earlier this year testing in the cold having reached an advanced stage. The plan had been to launch the battery-powered flagship fastback this year, with sales to commence early 2021. A report in The Sunday Times says that plan has changed, Jaguar pushing the XJ back to the third quarter of next year while the automaker focuses on its finances and its most profitable models. The site FormaCar reports, "The presentation date on the official website now reads, 'October 2021,'" but we haven't found that XJ-specific page. In response to questions about the Jaguar canceling the XJ, a spokesperson responded, "Our engineers continue to work on the next-generation all-electric Jaguar XJ. We remain committed to our long-term strategy and our product portfolio remains the same, but the unprecedented situation will inevitably have an impact on our immediate plans." The Jaguar Land Rover group, coming off a string of deep losses during 2018 and 2019, was working through a cost-cutting and turnaround plan when Covid-19 hammered the global economy. The whispered concern among outsiders is that Jaguar will drop the XJ entirely, but that doesn't appear to be the case for now. The automaker cut thousand of jobs while investing more than a billion pounds into its Castle Bromwich factory to prepare for electric-car assembly. At the moment, Castle Bromwich normally builds the XE and XF sedans, those offerings also in flux while Jaguar reportedly considers turning one or both of them into a small hatchback or a compact plug-in hybrid sedan. We write "normally" because the factory was put on pause to deal with Covid lockdowns, and isn't scheduled to restart until August 14. And above all of this, JLR is on the hunt for a new CEO to replace Ralf Speth. We've been expecting the new sedan to open the book on mainstream luxury EVs, the same way the I-Pace did for SUVs, but it appears that won't happen. The electric XJ will come on the Modular Longitudinal Architecture, and we've understood the specs include a 90.2-kWh battery pack, the same size as the I-Pace pack. There have been rumors about a four-motor setup, but odds favor a twin-motor arrangement. The motors in the I-Pace produce 394 horsepower and 512 pound-feet of torque. For an XJ flagship, we'd expect an even more powerful option in the range.