MUMBAI: Weighed down by debt and losses in its India business, Tata Motors, the world's fourth largest truck maker, plans to raise up to Rs 7,500 crore via a rights issue over the coming months, its third such offering in the company's history since it got listed in 1955.

Cyrus Mistry-led Tata Motors will be approaching shareholders for their approval to allow the vehicle manufacturer to issue new equity shares to reduce its debt load, which stood at Rs 60,774 crore as on September 30, 2014.

Tata Motors-owned Jaguar Land Rover (JLR) has helped Britain clock up its best car production data in years with the luxury car maker rolling off nearly 4,50,000 vehicles of total 1.5 million produced in the country last year, the highest since 2007.

Car plants across the UK produced more than 1.5 million vehicles last year with JLR rolling off 4,49,507 vehicles from its three plants in Castle Bromwich, Halewood and Solihull in northern England.

Tata Motors on Thursday launched the Bolt, a hatchback, starting at Rs 4.64 lakh (ex-showroom, Mumbai). The company is pitting this car against segment leaders Maruti Suzuki Swift and Hyundai Grand i10.

The Bolt, Tata Motors’ second launch in five months, is based on the platform of its compact sedan Zest. The base petrol variant of the Bolt costs Rs 36,000 less than the Zest in Mumbai.

The half a dozen public interest suits filed in various courts across the country against the proposed launch of the four-wheeled transport vehicle called a quadricycle has been instigated, believes Pune-based Bajaj Auto.

Instigated, I think...I won’t like to say by whom, Kevin D’Sa, its president (finance) told analysts.

Tata Motors, the country’s biggest automobile maker, has received the votes needed for paying its executive directors (ED) according to plans that were earlier contested by shareholders and proxy advisory firms.

Remuneration to executive directors Ravindra Pisharody and Satish Borwankar, has been approved not only for the past financial year but for the current and next year. Remuneration to late managing director Karl Slym for last year has also been approved. Voting was carried out through a postal ballot for the special resolution.

After a three-year wait, the country’s two largest homegrown automobile makers, Tata Motors and Mahindra & Mahindra (M&M), await the Indian Army’s announcement on new sports utility vehicles (SUVs). The choice is between the Tata Safari Storme and the Mahindra Scorpio.

The army, is expected to announce an initial order of about Rs 500 crore for almost 5,000 vehicles in the next few weeks, Business Standard has learnt from industry sources. In all, the order is likely to be worth Rs 3,000 crore for 30,000 SUVs over a 10-year period.

The Nano did not take off the way Tata Motors would have liked, despite aggressive pricing and Rs 4,000 crore of investments in development, marketing and a dedicated plant at Sanand in Gujarat. But the company, India's largest automaker by revenue, is looking to recover some of the cost incurred on the Nano platform. The plan is to develop a slightly bigger hatchback at the Sanand factory, to take on the Maruti Suzuki Alto, India's top-selling car.

For long, Tata Motors was admired for its commercial vehicles. Then it started making passenger cars. The cars, like the Indica, Safari and Nano, initially created a huge buzz in the market, but after launch failed to catch the imagination of the car buyer. Today, the Indica is seen more as a taxi, while the Nano suffers from a massive image problem as being a cheap car. Tata is trying to paint a better portrait of itself as a car maker, and the release of compact sedan Zest was an attempt in that direction.

Korean automaker Hyundai's new sports utility vehicle will be bigger than Ford Ecosport, which is the bestseller in the sub-four meter segment.

Slated for launch in the second half of this calendar year, the all-new SUV from Hyundai will be pitted against the Ford SUV but will be "roomier, more powerfull and have the characteristics of a true SUV," said a top Hyundai India official.

Tata Motors owned Jaguar Land Rover (JLR), UK's premium luxury car manufacturer today announced that it plans to create 1,300 new jobs at its UK plant as it plans to add new Jaguar models to its product portfolio.

The new jobs will be at the company's Solihull plant where it will built its new Jaguar crossover sports utility vehicle (SUV). The SUV is set to go on sale in 2016.

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