Auto companies to meet PLI goals a year earlier
Tata Motors, Mahindra & Mahindra, Bajaj Auto, Ola Electric and TVS Motor Co are among the major companies that have raised claims under the scheme till now.
"Budgetary fund allocation for current fiscal is expected to be exhausted in a few months...the trend suggests there will be much higher disbursements in next two years," another senior official told ET. Budget 2025-26 earmarked ₹2,818.85 crore for disbursal under this scheme.Five automobile companies have raised claims totalling more than ₹2,000 crore for achieving the scheme's goals in FY25. Officials said ₹322 crore have been released so far for FY24.While auto companies are faring well, there are concerns about component makers not meeting goals.
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Business Standard
7 minutes ago
- Business Standard
JLR appoints PB Balaji as CEO; Adrian Mardell to retire in December
Jaguar Land Rover (JLR), the UK-based luxury carmaker owned by Tata Motors, has appointed P.B. Balaji as its new Chief Executive Officer (CEO), effective November 17, 2025. Balaji will succeed Adrian Mardell, who will retire on December 31, 2025, after a 35-year career at the company, including three years as CEO. The announcement was made by JLR's board on Monday and comes after an internal search process over the past few months. N. Chandrasekaran, Chairman of Jaguar Land Rover, Tata Motors, and Tata Sons, said, 'I would like to thank Adrian for the stellar turnaround of JLR and for delivering record results. I am delighted to appoint Balaji as the incoming CEO. He has been associated with the company for many years and is well-aligned with JLR's strategy. This move will ensure that we continue to accelerate our journey to 'Reimagine JLR'.' Balaji currently serves as Group Chief Financial Officer (CFO) of Tata Motors and has been instrumental in the group's financial and operational transformation since 2017. With 32 years of experience across the automotive and consumer goods sectors, he has led global teams across Mumbai, London, Singapore, and Switzerland. He holds a in Mechanical Engineering from IIT Chennai and a Post Graduate Diploma in Management from IIM Kolkata. Commenting on his appointment, Balaji said, 'It is my privilege to lead this incredible company. Over the past eight years, I have grown to know and love JLR and its iconic brands. I look forward to working with the team to take it to even greater heights. I thank Adrian for his immense contributions and wish him well for his next innings.' Mardell, who took over as CEO in 2022, said, 'These three years have been a great privilege. Together with the incredible JLR workforce, we have cemented JLR's position in the automotive industry during a time of incredible change.' The company confirmed that Balaji is not debarred from holding the office of director by any SEBI or regulatory order, as required under listing norms.
Economic Times
35 minutes ago
- Economic Times
PB Balaji to take the wheel as JLR CEO — First Indian to lead iconic automaker
Synopsis Tata Motors has announced P.B. Balaji as the new CEO of Jaguar Land Rover, effective November 17, 2025, making him the first Indian to lead the luxury automaker. He succeeds Adrian Mardell, who is retiring after 35 years. Balaji's appointment comes as Tata Motors undergoes a demerger and JLR navigates its electric transition. Mumbai: Tata Motors has appointed P.B. Balaji as the next Chief Executive Officer of Jaguar Land Rover (JLR), effective November 17, 2025, the company said in a notification to the stock exchanges. With this, Balaji becomes the first Indian to lead the British luxury automaker, marking a symbolic and strategic milestone for both JLR and Tata Motors, its parent company. Balaji will succeed Adrian Mardell, who will retire after three years at the helm and 35 years of dedicated service to the company. Mardell is credited with leading a sharp turnaround at JLR during an era of electric transition and global uncertainty. The announcement comes at a pivotal time not only for JLR but also for Tata Motors, which is currently in the process of demerging its passenger vehicle and commercial vehicles businesses. from Indian stock exchanges. As a result of this ongoing transition, the company may no longer require a Group Chief Financial Officer, a role Balaji has held since 2017. His move to JLR, therefore, may also reflect an evolving corporate structure within the Tata automotive ecosystem. It is set to list its CV business in October this year. N. Chandrasekaran, Chairman of Tata Sons, Tata Motors, and JLR, stated: 'I would like to thank Adrian for his stellar leadership and record-setting performance. I am delighted to appoint Balaji as his successor. He knows JLR intimately and is well positioned to carry forward the 'Reimagine' strategy.' Balaji, an alumnus of IIT-Chennai and IIM-Kolkata, brings with him 32 years of global experience in the automotive and consumer goods sectors, having led large multicultural teams across Mumbai, London, Singapore, and Switzerland. His financial acumen and strategic leadership have been instrumental in Tata Motors' successful transformation on his new role, Balaji said: 'It is my privilege to lead this iconic company. Over the past eight years, I've come to deeply admire JLR and its exceptional brands. I look forward to the road ahead with optimism and purpose.'Since Tata Motors acquired JLR in 2008, the automaker has seen four CEO transitions–David Smith, Ralf Speth,Thierry Bolloré, and Adrian Mardell. Balaji's appointment represents both continuity and change as JLR navigates its next phase of electrification, innovation, and global repositioning.
Time of India
an hour ago
- Time of India
In a first, Tata Motors-owned British marque brands Jaguar Land Rover to get an Indian CEO
PB Balaji, the group CFO of Tata Motors NEW DELHI: PB Balaji, the group CFO of Tata Motors , will take charge as the CEO of British marque brands Jaguar Land Rover from November this year, becoming the first Indian to lead the luxury car companies in an executive role. Balaji will succeed Adrian Mardell, who has expressed his desire to retire from JLR after three years as CEO and 35 years with the company. Post the acquisition of the brands in 2008, there have been four CEOs, but none of them Indian. David Smith served as the CEO between 2008 and 2010, and was followed by Ralf Speth who worked between 2010 and 2020. Former Renault CEO Thierry Bollore was the CEO between 2020 and 2022, after which Mardell took charge. Balaji has been serving as the CFO of Tata Motors since November 2017 and has a cumulative experience of 32 years in the automotive and consumer goods industries across finance and supply chain functions. He has led large, diverse, global teams in multi-cultural environments out of Mumbai, London, Singapore and Switzerland, and has been closely associated with the successful transformation at the Tata Motors Group, the Indian auto major said in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like NRI in Italy? Invest ₹18K/Month & Secure ₹2Cr for Your Kid's College Future! Click Here Undo 'I am delighted to appoint Balaji as the incoming CEO of the company. The search for a suitable candidate to lead JLR has been undertaken by the Board for the past few months and after careful consideration it was decided to appoint Balaji,' N Chandrasekaran, Chairman of Jaguar Land Rover PLC, Tata Motors and Tata Sons said. 'He has been associated with the company for the past many years and is familiar with the company, its strategy and has been working with the JLR leadership team. This move will ensure that we continue to accelerate our journey to Reimagine JLR.' Balaji said that over the past eight years he has grown to know and love the company and the global brands. 'I look forward to working with the team to take it to even greater heights. I thank Adrian for his immense contributions and wish him well for his next innings.' The incoming CEO has a in Mechanical Engineering from IIT -Chennai and a Post Graduate Diploma in Management from IIM - Kolkata. Mardell said JLR stands is set for a healthy growth over the coming years. 'These three years have been a great privilege. Together with the incredible JLR workforce, we have cemented JLR's position in the automotive industry during a time of incredible change. I would like to thank everyone in JLR and the extended Tata Group, and wish Balaji every success in his new role.' Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
