Latest news with #SierraEV
Yahoo
3 days ago
- Automotive
- Yahoo
General Motors to Make an Investment of $888M in Tonawanda Plant
General Motors Company GM has revealed plans to invest $888 million into its Tonawanda Propulsion plant to support the production of its sixth-generation V-8 engines, which power full-size trucks and SUVs. These new engines are expected to outperform current models while enhancing fuel efficiency and lowering emissions, thanks to advancements in combustion and thermal management the past 15 years, GM has consistently invested in its manufacturing capabilities. In January 2023, it committed $500 million to its Flint Engine plant for the production of the sixth-generation V-8 project. The latest investment is now GM's largest single investment in an engine facility, making it the second plant to take on production of the new engine funding will go toward new machinery, tools, equipment and upgrades to the facility. Tonawanda Propulsion, represented by UAW Local 774, will continue producing the current fifth-generation V-8 while gearing up to begin sixth-generation production in Motors is the top-selling automaker in the United States. The company's hot-selling brands in America, namely Chevrolet, Buick, GMC and Cadillac, are boosting its top line. It is advancing well in its electrification journey. In the final quarter of 2024, GM's EV portfolio became 'variable profit positive' thanks to production scale efficiencies, lower material costs and expansion of the portfolio with the Cadillac Escalade IQ and Sierra EV launches. The company expects to cut EV-related losses further this year. Also, General Motors' deals with Vianode, Lithium Americas, LG Chemical, POSCO Chemical and Livent have boosted its EV supply chain, aligning with its long-term electrification goals. General Motors carries a Zacks Rank #5 (Strong Sell) at better-ranked stocks in the auto space are CarGurus, Inc. CARG, Strattec Security Corporation STRT and Michelin MGDDY, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for CARG's 2025 sales and earnings implies year-over-year growth of 4.96% and 25%, respectively. EPS estimates for 2025 and 2026 have improved 30 cents and 44 cents, respectively, in the past 30 Zacks Consensus Estimate for STRT's fiscal 2025 sales and earnings implies year-over-year growth of 3.49% and 8.11%, respectively. EPS estimates for fiscal 2025 and 2026 have improved 73 cents and 91 cents, respectively, in the past 30 Zacks Consensus Estimate for MGDDY's 2025 sales and earnings implies year-over-year growth of 0.43% and 37.76%, respectively. EPS estimates for 2025 and 2026 have improved a penny and 4 cents, respectively, in the past seven days. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report General Motors Company (GM) : Free Stock Analysis Report Strattec Security Corporation (STRT) : Free Stock Analysis Report Michelin (MGDDY) : Free Stock Analysis Report CarGurus, Inc. (CARG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Hindustan Times
6 days ago
- Automotive
- Hindustan Times
Tata Motors aims to regain 50% market share in Indian electric car segment, Harrier EV and Sierra EV to play key roles
Tata Motors aims to bring new products in the above ₹20 lakh segment of Indian electric car market, while in the lower pricing slab categories, the company targets to strengthen its grip by value propositioning of existing models. Notify me Tata Motors, which is the current leader in the Indian electric passenger vehicle segment, is aiming to regain its market share of 50 per cent in the mid-to-long term. To achieve this target, the carmaker is planning to expand its product portfolio as well as update the existing products. With the domestic electric passenger vehicle market fragmenting into four distinct segments on the basis of price brackets, Tata Motors is now gearing up to enter the above ₹ 20 lakh segment with its upcoming models like the Harrier EV and Sierra EV. Besides that, the OEM is also emphasising the fleet segment EVs to regain volume. Speaking to the news agency PTI, Shailesh Chandra, the Managing Director of Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility, revealed this plan. He also stated that the homegrown auto major is working to make the total cost of ownership (TCO) of its electric vehicles in the fleet segment comparable to that of CNG vehicles to regain volumes. "We have the aspiration of sustaining our market share beyond 50 per cent in the mid to long term. We would aspire to be at a 50 per cent market share by having a very wide product portfolio and products which are aligned to the expectations of the customers," Chandra said. He further added that by mid-term, he meant 18-24 months and beyond. Also Read : Upcoming cars in India Tata Motors currently has a wide range of electric cars on offer, which include the Tiago EV, Tigor EV, Punch EV, Nexon EV, and Curvv EV. The Harrier EV and Sierra EV will join the lineup soon, with the former being ready for launch on June 3 and the latter expected to hit the market later this year. With the existing models as well as the upcoming ones, Tata Motors is looking to maintain its leadership position in the Indian electric passenger vehicle market in the wake of intensifying competition from rival brands. Chandra said that Tata's market share in the Indian electric car market is down to about 40-41 per cent at present, compared to about 55 per cent last fiscal. This is mainly on account of a drop in fleet sales and intense competition in the ₹ 12 to 20 lakh segment. Tata Motors sold about 65,000 EVs in FY25, a drop of 10 per cent compared to FY24. Acknowledging that in the short term, Tata Motors will face challenges, Chandra said that the decline in the company's market was pretty much on the cards as many players have come with multiple products with around 20 models in the market, including luxury cars. He also noted that the passenger EV market in the country is now segmented into four pricing categories - ₹ 8-12 lakh; ₹ 12 to 20 lakh; above ₹ 20 lakh, and the fleet segment. "A big part of the loss in volume has come because of the loss of volume in the fleet segment. In the personal segment, we have been kind of sustaining our volumes, but we are losing market share because the competition is coming in," he noted. Tata Motors' EV plan: What's ahead Chandra has elaborated on how the auto company is preparing to regain its overall market share in the Indian electric passenger vehicle segment. He said that in the ₹ 8-12 lakh segment, where it has Tiago EV, Tigor EV and Punch EV, the OEM owns 75 per cent market share and is very comfortable. However, it aims to expand this segment with the value proposition of the existing products. This hints at upcoming updated iterations of the Tiago EV, Tigor EV and Punch EV. According to Chandra, the ₹ 12-20 lakh segment is the most crowded space where all the players have positioned one product or the other. 'Here, our market share has come down to 33-35 per cent. This is where we are trying to bring more compelling options with two products that we have here, Nexon EV and Curvv EV, to fiercely compete in this segment," he explained. The Tata Motors official also said that there is another segment beyond ₹ 20 lakh, which is emerging fast, and the company is seeing the appetite of people also here to buy electric cars. 'This is the segment we are not present in right now. This is where we'll come with Harrier EV and then Sierra EV. So, that will open a new segment for us, and that should strengthen our volume growth further," he added. Check out Upcoming EV Cars in India. First Published Date: 26 May 2025, 08:13 AM IST
Hindustan Times
19-05-2025
- Automotive
- Hindustan Times
Tata Motors plans major EV offensive, new launches and updates on the card
Tata Motors to launch Harrier EV and Sierra EV in FY26, while it will also update the existing electric cars as well. Tata Motors to launch Harrier EV and Sierra EV in FY26, while it will also update the existing electric cars as well. Notify me Tata Motors is planning a major EV offensive for the Indian market in this financial year. The homegrown car manufacturer that currently holds the lion's share in the Indian electric passenger vehicle market is aiming to launch new products as well as update the existing ones in an attempt to strengthen its grip in the domain. The car manufacturer has said in a post-result investor presentation that the OEM will strengthen its EV portfolio with new launches. It also stated that the company will strengthen the value proposition of the existing products, news agency PTI has reported. Tata Motors has adopted this strategy to make electric vehicles mainstream in the Indian passenger vehicle market. The auto company is gearing up to launch the Tata Harrier EV in the Indian market on June 3. It will be followed by another most-awaited electric car from the brand, the Tata Sierra EV. Both of these electric SUVs were showcased multiple times, the latest being the Bharat Global Mobility Expo 2025. Upon arrival, these two electric cars will join the Tata Motors' lineup of other EVs, which include models such as Tiago EV, Tigor EV, Punch EV, Nexon EV and Curvv EV. While the Harrier EV and Sierra EV will join he portfolio as new models, the other products will receive facelifts or significant updates, revealed the automaker. Also Read : Upcoming cars in India This strategy has been revealed at a time when Tata Motors has registered a 10 per cent drop in its EV sales in FY25. In the last financial year that ended in March 2025, Tata Motors sold about 65,000 electric cars, which marked a slump of 10 per cent compared to what the OEM recorded in FY24. The strategy regarding electric cars comes as a part of Tata Motors' bigger sustainable growth plan in the Indian passenger vehicle segment in FY26. Speaking of the internal combustion engine (ICE) vehicle segment, the auto company reportedly said that it aims to leverage its strongest and freshest portfolio yet, with product interventions across hatches and SUVs. Tata Motors also reportedly said that it plans to expand its sales network in key markets, with a focus on larger format stores. Check out Upcoming EV Cars in India. First Published Date: 19 May 2025, 08:17 AM IST
Mint
19-05-2025
- Automotive
- Mint
Harrier EV to Sierra EV: Tata Motors to launch a major electric car offensive in FY26
Tata Harrier EV is going to be a major product launch in the Indian market in June 2025. The carmaker has already showcased the production-ready version of the Harrier EV at the Bharat Mobility Global Expo 2025. The electric SUV is now ready for market launch on June 3. It will come with a design philosophy that resembles the internal combustion engine-powered version of the Harrier. It will also come as the latest Tata electric car to have an AWD setup, owing to dual electric motors, with each powering one axle. Also, the Harrier EV will come with a range of around 500 kilometres on a full charge. Tata Sierra EV is another most-awaited electric car in the Indian market. It was showcased in concept form at the Auto Expo 2023. Later, the OEM showcased the ICE version of the new Sierra at the Bharat Mobility Global Expo 2025. Now, Tata Motors is working on the Sierra EV for launch this fiscal. The Indian carmaker has confirmed that the Sierra EV will follow its upcoming sibling, the Harrier EV. Expect it to closely follow the concept version. The Sierra EV would come adopting a design philosophy that will blend the iconic design language with modern elements. Tata Motors has further revealed that it will not only stop at bringing the Harrier EV and Sierra EV to the Indian market in the current financial year. The automaker has stated that it will bring updated versions of its other electric cars, which include the Tiago EV , Tigor EV , Punch EV , Nexon EV and Curvv EV . Tata said that it aims to increase the value proposition of these existing electric cars with the updates. However, the auto company didn't reveal further details or the launch timeframe of these updated EVs.
The Hindu
13-05-2025
- Automotive
- The Hindu
Tata Motors Q4 net halves, set to pay ₹6 in final dividend
Tata Motors Ltd. (TML) reported Q4 consolidated net profit plunged 52% to ₹8,470 crore from ₹17,528 crore in the year-earlier period which included deferred tax asset of ₹9,000 crore and exceptional item of ₹566 crore. Revenue remained flat at ₹1,18,927 crore. For FY25, the company's consolidated net profit fell 11% to ₹27,830 crore, while revenue grew by a marginal 1% to ₹4,36,821 crore. During the year, Tata Motors Group turned net auto cash positive with a net cash balance of ₹1,000 crore, the firm said. The board recommended a final dividend of ₹6 per share subject to approval by the shareholders. Lower depreciation and amortization at Jaguar Land Rover (JLR) unit, better profitability at the Commercial Vehicles division and savings in interest cost were partially offset by lower volumes and lower operating leverage, the company said. P.B. Balaji, Group Chief Financial Officer, Tata Motors said, 'Despite external headwinds, Tata Motors sustained its strong performance in FY25, delivering its highest ever revenues and PBT(bei). 'On a consolidated basis, the automotive business is now debt-free, reducing interest costs. This is both pleasing and significant as it reflects healthy business fundamentals delivered by a resilient team,' he said. 'Drawing strength from it, in this environment of heightened uncertainty, we will remain agile, proactively drive our growth agenda, reduce our cash breakeven further whilst continuing to invest in our future. With the shareholders also approving the demerger, we are on track to realise the full potential of each of the businesses,' he added. He said the tariffs and related geo-political actions were making the operating environment uncertain and challenging but the company would go ahead with the long term growth plans by continuing its investment. 'The global premium luxury segment and Indian domestic markets are expected to weather this [the challenges] relatively better. Drawing strength from our healthy business fundamentals, we remain focused on executing our growth strategy flawlessly, serving our customers better, and maintaining a heightened vigil on costs and cashflows whilst continuing to invest in our future,' Mr. Balaji said. He said the trade agreements between U.S. and U.K. as well as U.K. and India would benefit JLR, but did not quantify the gains. Mr. Balaji said the FTA between India and U.K. would see reduction in the prices of future models of JLR as the company as locally assembling most the of the existing models. 'FTA will benefit the future cars,' he said. On manufacturing in India, he said the company had taken a long-term view. Stating that the domestic EV business had been facing headwinds from the fleet segment, he said future line-ups like Harrier EV and Sierra EV would revive the overall EV segment. He said during the year, Tata Motors sold 65,000 EVs, which was 10% less than the previous year and the fall had been attributed to the lack of demand in the fleet segment. 'Growth was impacted by the fleet sales,' he said. He said the CV business performed well and reported improved profitability for the first time in 25 years. JLR continued its trend of consistent performance, delivering record full year and quarterly profits in a decade. Revenue for the quarter was £7.7 billion, down 1.7% YoY, while full year revenue at £29.0 billion was flat YoY. PBT (bei) in Q4 FY25 was £875 million, up from £661 million in Q4 FY24, and full-year profit before tax was £2.5 billion, up 15% YoY, and the best PBT in a decade. EBIT margin for the quarter was 10.7%, up 150 bps compared with Q4 FY24 and for the full year it was 8.5%, the best Q4 and full year EBIT margin in a decade. 'The increase in profitability year-on-year reflects higher volumes and a reduction in depreciation and amortisation (D&A),' the company said.
