Mumbai/New Delhi, Aug. 28 -- Tata Motors Ltd aims to become near debtfree in the next three years by shedding its total debt of '48,000 crore, its chairman said on Tuesday, 25 August.
Addressing the company's 75th annual general meeting, N. Chandrasekaran, who also chairs parent Tata Sons Ltd, said the automaker is working on a strategic deleveraging plan to achieve its objective. This includes aggressive cost control and cash-saving measures, debt reduction and making Tata Motors' business units profitable, ranging from the British luxury car unit Jaguar Land Rover Automotive Plc (JLR) to its commercial and passenger vehicle divisions in India, he said.
"Towards this, we have already taken steps and have a target for Tata Motors group to...