How Tata Can Keep Its Hold on Jaguar Land Rover
It’s time for the Indian conglomerate’s holding company to go public. A $10 billion overseas IPO could kill many birds with one stone.
Pounce while the time is right.
Photographer: Chris Ratcliffe/Bloomberg
India’s Tata Group should treat the speed bump at Jaguar Land Rover as a timely memo: The $102 billion salt-to-software conglomerate can no longer put off listing its closely held parent.
U.K.-based Jaguar Land Rover Automotive Plc is burning cash on electric-vehicle technology just as the double whammy of a Chinese auto slowdown and Brexit threatens margins and sales. At average cash burn rates of 670 million pounds ($882 million) a quarter, the British carmaker may struggle to make it through another year, my colleague Anjani Trivedi wrote last month after it took an asset impairment charge of 3.1 billion pounds.