Tata Motors shelves sports car project RaceMo
Tata Motors has shelved its ambitious sports car project, RaceMo, which was unveiled with much fanfare at the Geneva international motor show last year. The RaceMo is among the projects in both passenger vehicles (PV) and commercial vehicles (CV) segments which the company has decided to pull the plug after a review of its capitalisation policy on product development
Tata Motors has made an impairment provision of Rs 1,641.38 crore for quarter ended March 31, 2018 related to under development and capital work-in-progress after reviewing its product development programmes. Image source: Reuters