Tata Motors has made an impairment provision of Rs1,641.38 crore for quarter ended 31 March 2018 related to under development and capital work-in-progress after reviewing its product development programmes. Photo: MintNew Delhi: Tata Motors has shelved its ambitious sports car project, RaceMo, which was unveiled with much fanfare at the Geneva international motor show last year. “All products or categories that we are not intending to continue further have all been taken in exceptional (items) for Tata Motors,” he added. When it was unveiled in Geneva last year in March, Tata Motors had planned to sell the RaceMo sports car under TAMO badge. Tata Motors had built it on patented MOFlex Multi-Material Sandwich (MMS) structure — a structural technology, enabling greater freedom in surface design, efficient large-scale part integration leading to modularity and faster time to market.

Source: Mint May 25, 2018 15:33 UTC