Last Updated:
Tata Motors denied reports that Jaguar Land Rover UK will pause US exports due to new tariffs. The company is evaluating steps in response. Tata Motors shares rose 4% on Tuesday.
Tata Motors. (File photo)
Tata Motors on Tuesday denied reports claiming that the company’s wholly owned subsidiary, Jaguar Land Rover UK (JLR), will pause exports to the United States in April due to newly announced auto tariffs by the US government.
In a filing to stock exchanges, Tata Motors said that its wholly owned subsidiary, Jaguar Land Rover UK, is currently evaluating several steps in response to the tariff hike announced by the US on April 2.
“There is no decision or plan of action. This is just emphasizing that JLR is evaluating various options to suitably address impact of the increased tariff in US market and the aforesaid news article refers to its immediate response,” the company said in the filing on April 08.
Tata Motors also stated that the share price movement due to the announcement of US tariffs is happening across the world and so the movement of Tata Motors Limited share price is due to what is happening in the external world and not due to this article.
Shares of Tata Motors climbed 4 per cent during the intraday on Tuesday amid the positive global cues. The day’s high stood at Rs 606.40 apiece, against the day’s opening at Rs 592.65 apiece.
On Monday, shares of the tata stock fell 9 per cent following the reports claiming JLR pausing shipments to US amid heavy auto tariffs.
US President Donald Trump earlier announced to impose a 25 per cent tariffs on imports of automobiles and some components to protect its industry.
#Decision #Plan #Action #Tata #Motors #Denies #JLR #Halting #Exports #Auto #Tariffs
