Tata Motors rose 2.07% to Rs 508.50 after Jaguar Land Rover announced formation of a multi-year strategic partnership with NVIDIA to jointly develop and deliver next-generation automated driving systems plus AI-enabled services.
Starting in 2025, all new Jaguar and Land Rover vehicles will be built on the NVIDIA DRIVE software-defined platformdelivering a wide spectrum of active safety, automated driving and parking systems as well as driver assistance systems. Inside the vehicle, the system will deliver AI features, including driver and occupant monitoring as well as advanced visualisation of the vehicle's environment.
Thierry Bollor chief executive officer, Jaguar Land Rover, said: Collaboration and knowledgesharing with industry leader NVIDIA is essential to realising our Reimagine strategy, setting new benchmarks in quality, technology and sustainability.
Jaguar Land Rover will become the creator of the world's most desirable luxury vehicles and services for the most discerning customers. Our long-term strategic partnership with NVIDIA will unlock a world of potential for our future vehicles as the business continues its transformation into a truly global, digital powerhouse.
A global brokerage firm has reportedly initiated coverage on shares of Tata Motors with an 'overweight' rating with a target price of Rs 630.
The brokerage has reportedly said that the company has demonstrated a commitment to balance sheet deleveraging and structural strenghtening. It reportedly believes that the company can achieve its zero net debt target by FY24.
The firm has recorded model launch led market share gains in the India passenger vehicles business. The automaker is strengthening its commercial vehicle leadership during a cyclical recovery, the brokerage reportedly highlighted.
Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
The auto major's consolidated net loss stood at Rs 1,451.05 crore in Q3 FY22 as against a net profit of Rs 2,941.48 crore posted in Q3 FY21. Total revenue from operations fell 4.52% to Rs 72,229.29 crore in Q3 FY22 from Rs 75,653.79 crore posted in Q2 FY21.
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