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Tata Motors posts quarterly loss and warns of inflationary costs

BENGALURU — Jaguar Land Rover (JLR) owner Tata Motors reported a quarterly loss on Monday that was bigger than expected and warned of rising inflationary costs. Automakers worldwide have been roiled by chip shortages, supply chain disruptions, COVID-19 restrictions and rising raw material prices after a short-lived recovery towards the end of 2020. "Demand remains strong despite near term concerns ... the semiconductor supply situation is improving gradually whilst inflation worries persist," Tata Motors said in an exchange filing. The company expects chip shortages at JLR to continue through 2022 as suppliers gradually ramp up production, and is also engaging directly with chip manufacturers to secure supply longer-term supplies for the Range Rover maker, it said. Tata Motors' consolidated net loss came in at 15.16 billion rupees ($203.23 million) for the quarter ended Dec. 31, compared to a profit of 29.06 billion rupees a year earlier, when an easing of pandemic-related restrictions led to a pick-up in sales. However, the recovery was short-lived as acute semiconductor shortages and supply chain disruptions delayed production, and Tata Motors slipped back to losses. For the reported quarter, analysts had expected the Mumbai-based company to report a loss of 3.30 billion rupees, according to Refinitiv IBES data. Tata Motors' earnings before interest, taxes, depreciation, and amortization (EBITDA) margin, a key measure of profitability, was 10.2% for the quarter, above estimates of 9.3%. Total revenue from operations for the quarter fell 4.5% to 722.29 billion rupees, below estimates of 775.93 billion rupees. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Jaguar Land Rover

Land Rover will put a Covid-nuking air filtration system in future cars

Jaguar - Land Rover (JLR) is developing an air filtration system that inhibits up to 97% of viruses and airborne bacteria. Designed like a face mask for your car's HVAC system, it's built on Panasonic's Nanoe X technology. Most of the company's models (including the Land Rover Defender) currently come equipped with Panasonic's Nanoe technology and PM2.5 filtration. Nanoe X is 10 times more effective, according to the brand, because it relies on a high voltage to create trillions of hydroxyl (OH) radicals enveloped in nano-sized water molecules. Think of them as Roman guards in front of a fortress: they keep the bad out, and ensure only the good can come in. Viruses and bacteria proteins are denatured when they come into contact with the filtration system, meaning they can't reproduce or grow. The OH radicals also zap common allergens and mold, but they're harmless to humans. JLR stressed it's not relying on computer simulations to decide whether its filtration system works as designed. It asked British laboratory Perfectus Biomed to perform a test that simulates a ventilation system in recirculation mode for a 30-minute cycle in a sealed chamber. The results were encouraging: 97% of viruses and airborne bacteria were nuked. The carmaker pointed out Panasonic's Nanoe X technology has been independently proven to inhibit 99.995% of coronaviruses during a two-hour laboratory test carried out by French immunology lab Texcell. Future models from Jaguar and Land Rover will use this technology, though a representative for both companies declined to tell us when it will reach production, and which nameplate(s) will inaugurate it. Meanwhile, Honda launched its own coronavirus killer across the pond. It's a cabin air filter sold as a genuine replacement part that consists of four layers, including one coated with an active substance of fruit extract that inactivates nearly 100% of the viral aerosols it captures. It's available in Europe through Honda dealers, but it won't be sold in America. Jaguar Land Rover

Jaguar Land Rover and Chery investing in Chinese plant

While the European auto market for Jaguar and Land Rover is waning, Chinese car buyers can't get enough of the British marques. To meet that demand, Tata Motors, parent company of Jag and Land Rover, is partnering with Chinese automaker Chery Automobile Co.
The two announced plans to invest $1.75 billion to build a new plant and create a new, China-focused brand. 2014 is the target for completion of the factory. Jaguars and Land Rovers built at the facility will be the first ever produced outside the UK according to the Associated Press. The JV will be called Chery Jaguar Land Rover Automotive Company Ltd.
The announcement comes less than a month after JLR announced it would open a design studio in China. It's not clear from the reports whether the two announcements are part of the same JV or two separate plans.