Tata Motors to infuse additional Rs 120 cr in Freight Tiger

New Delhi, Sep 30 (PTI) Tata Motors on Tuesday announced a fresh investment of Rs 120 crore in leading digital freight ecosystem Freight Commerce Solutions.

The latest infusion builds on the company's earlier investment of Rs 150 crore in October 2023, bringing the total investment to Rs 270 crore in Freight Commerce Solutions (Freight Tiger), the Mumbai-based automaker said in a statement.

"With this investment, we're not just funding technology - we're fundamentally reimagining logistics through artificial intelligence," T V Swaminathan, Vice President & Head- Digital Business, Tata Motors Commercial Vehicles, said.

The company's enhanced investment reaffirms Tata Motors' commitment to not only powering India's logistics infrastructure, but also shaping its digital future by enabling smarter, more connected, and customer-centric freight operations for businesses and consumers, he added.

In a separate regulatory filing, Tata Motors said its subsidiary has incorporated a unit in the Netherlands.

"We wish to inform you that TML CV Holdings Pte Limited, a wholly-owned subsidiary of the company, has incorporated a wholly-owned subsidiary in the name of TML CV Holdings B.V., in the Netherlands," the Mumbai-based auto major said in a regulatory filing.

The new entity has been incorporated as a holding company with the primary objective of participating in managing and administering participations and interests in businesses, legal entities and companies, it added.

On July 30, Tata Motors announced the acquisition of Italian firm Iveco Group NV in a deal pegged at around 3.8 billion euros. PTI MSS MR