Tata Motors Passenger Vehicles Limited was rated Neutral by Nomura, which said the company could also gain market share if electric-vehicle penetration rises faster, while warning incumbents with ICE-led portfolios could face share pressure.

Tata Motors Passenger Vehicles will provide Stellantis access to its advanced product technology and vehicle architecture for Stellantis to develop vehicles in India under its own brands for more than 50 countries, starting with a new Jeep SUV based on the Argos platform, with production by their Fiat India Automobiles joint venture at Ranjangaon, Pune.