- Dull market conditions and not much sales forced the partners to discontinue the venture
- The discontinuation of the joint venture between Tata Motors and Jayem Automotives is clearly indicating the troubled situation in the Indian automobile industry.
Tiago JTP and Tigor JTP were the two products from JT Special Vehicles
Tata Motors and Jayem Automotives have discontinued their 50:50 joint venture as a result of dull market conditions.
The dull demand in the automobile industry for the past two years followed by the negative impact due to the present Covid-19 situation has forced both the companies to discontinue their joint venture.
The discontinuation of the joint venture is clearly indicating the troubled situation in the Indian automobile industry.
History of JV
The JV was set up in 2017 by Tata Motors and Jayem to develop high performance versions of Tata Motors’ passenger cars under the JTP brand. In 2018, performance versions of Tiago hatchback (Tiago JTP) and Tigor compact sedan (Tigor JTP) were launched but did not get much response in the market.
In its filing to BSE, Tata Motors said it has signed an agreement to purchase the 50% shareholding of Jayem Automotives in JT Special Vehicles Pvt. Ltd.