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Tata Motors posts quarterly loss and warns of inflationary costs

BENGALURU — Jaguar Land Rover (JLR) owner Tata Motors reported a quarterly loss on Monday that was bigger than expected and warned of rising inflationary costs. Automakers worldwide have been roiled by chip shortages, supply chain disruptions, COVID-19 restrictions and rising raw material prices after a short-lived recovery towards the end of 2020. "Demand remains strong despite near term concerns ... the semiconductor supply situation is improving gradually whilst inflation worries persist," Tata Motors said in an exchange filing. The company expects chip shortages at JLR to continue through 2022 as suppliers gradually ramp up production, and is also engaging directly with chip manufacturers to secure supply longer-term supplies for the Range Rover maker, it said. Tata Motors' consolidated net loss came in at 15.16 billion rupees ($203.23 million) for the quarter ended Dec. 31, compared to a profit of 29.06 billion rupees a year earlier, when an easing of pandemic-related restrictions led to a pick-up in sales. However, the recovery was short-lived as acute semiconductor shortages and supply chain disruptions delayed production, and Tata Motors slipped back to losses. For the reported quarter, analysts had expected the Mumbai-based company to report a loss of 3.30 billion rupees, according to Refinitiv IBES data. Tata Motors' earnings before interest, taxes, depreciation, and amortization (EBITDA) margin, a key measure of profitability, was 10.2% for the quarter, above estimates of 9.3%. Total revenue from operations for the quarter fell 4.5% to 722.29 billion rupees, below estimates of 775.93 billion rupees. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Jaguar Land Rover

Jaguar Land Rover to upgrade Castle Bromwich plant to build EVs

LONDON — Jaguar Land Rover is making a multi-million pound investment to build electric vehicles in Britain, in a major boost for the UK government and a sector hit by the slump in diesel sales and Brexit uncertainty. Britain's biggest car company, which built 30 percent of the UK's 1.5 million cars last year, will make a range of electrified vehicles at its Castle Bromwich plant in central England, beginning with its luxury saloon, the XJ. "The future of mobility is electric and, as a visionary British company, we are committed to making our next generation of zero-emission vehicles in the UK," Chief Executive Ralf Speth said on Friday. The announcement gives a boost to Britain's automotive sector hit this year by Honda and Ford's plans to close factories. Jaguar Land Rover (JLR) has highlighted the dangers of a no-deal Brexit and the need to maintain frictionless trade with the European Union, echoing warnings from the industry that just-in-time production could be hit by customs delays and additional bureaucracy. But it has signed a deal with workers at the Castle Bromwich factory to go from a five-day to a four-day working week with the same amount of hours which should allow the plant to operate more efficiently. Three of JLR's four European car plants are in Britain, giving it limited capacity elsewhere on the continent. The other, in Slovakia, only opened last year and is still being ramped up with other models allocated there. "We are making this investment because the ongoing Brexit uncertainty has left us with no choice, we had to act, for our employees and our business," JLR said. "We are committed to the UK as our home and will fight to stay here but we need the right deal." Both candidates to replace Prime Minister Theresa May, Boris Johnson and Jeremy Hunt, have both said they are prepared to take Britain out of the EU on Oct. 31 without a deal, although it is not their preferred option. Brexiteers have argued that the EUÂ’s biggest economy Germany, which exports hundreds of thousands of cars to Britain ever year, would do its utmost to protect that trade Friday's announcement comes after a turbulent few months for Jaguar which announced around 4,500 job cuts earlier in January and posted a 3.66 billion pound ($4.5 billion) loss in 2018/19.

Jaguar Land Rover reveals EV concepts, details green strategy

While it offers diesel models and even a couple hybrids, Jaguar Land Rover isn't quite as fleshed out on alternative powertrains as its luxurious German rivals. That should change pretty soon. JLR revealed three concepts at the CENEX Low Carbon Vehicle event in Millbrook, England, today. The Concept_e "research demonstrators" all use a new electric drive module, an EV system that the Indian-owned, British-based outfit claims will double the power and torque of today' electric motors. JLR says these modular EDMs can be paired with any of the company's engines or transmissions to create either a mild hybrid, a plug-in hybrid, or a pure EV. So yeah, this is kind of a big deal. Arguably the most exciting offering is a one-of-a-kind research vehicle. Riding on JLR's aluminium aluminum architecture, it ties together two electric motors – an 85-kW unit with a single-speed trans on the front axle and a 145-kW rear motor that's been mated to a two-speed transmission – with a 70-kWh li-ion battery that's mounted in the underbody of the car. There's also the Concept_e MHEV. This is a Range Rover Evoque that's been fitted with a mild hybrid system. Just a refresher, but a mild hybrid is very different than what's found in either a Chevrolet Volt or Toyota Prius, as it uses the electric motor and battery pack to simply assist the internal combustion engine, rather than for an electric driving mode. Reflecting that use, this particular Evoque uses a 15-kilowatt electric motor and a 48-volt, lithium-ion battery pack alongside a 90-metric-horsepower diesel-powered prototype. Finally, we have a Range Rover Sport-based plug-in hybrid. This brute uses a 300-metric-horsepower prototype gas engine and an eight-speed automatic alongside a 150-kilowatt electric motor. Energy is stored in a trunk-mounted, 320-volt, li-ion battery back. Partially funded by the British government, the EDMs are the result of a 16.3-million-pound ($25-million) research-and-development program. They're built in house by JLR, but were developed alongside 12 partners. While these concepts are exciting, don't get your hopes up to see a plug-in Jaguar XF or an all-electric Discovery Sport in your local dealer any time soon. "This is a long-term Jaguar Land Rover research project exploring all aspects of future hybrid and battery electric vehicle technology," JLR research and design boss Dr. Wolfgang Epple said in the attached statement.