There has been widespread speculation in the media, on the impending tie-up between Tata Group and Tesla.
However, there is now confirmation that the Tie-Up is not happening.
The speculation was put to rest by Mr.N.Chandrasekaran, Chairman, Tata Sons on Wednesday. Mr.N Chandrasekaran said: “There is "no dialogue" with Tesla. With us, there is nothing. We will do it on our own."
Mr.Chandrasekaran also spoke about the aggressive plans of Tata Motors and its' British subsidiary Jaguar and Land Rover in the electric vehicles space. Jaguar and Land Rover have been performing well, and there is no need for any outside partner at this time, he shared.
This widespread speculation in the media about an impending partnership between Tata Group and Tesla, as Tesla enters the Indian market, had, possibly, contributed to the spike in the share prices of Tata Motors. However, the strong performance of the Tata Motors cars in the Indian Market, off-late, could also be an important reason for the spike in share prices.