Tata Motors Ltd. has denied media reports that said it was looking to divest stake in its subsidiary Jaguar Land Rover(JLR).

“There is no truth to the rumours that Tata Motors is looking to divest our stake in JLR or discontinue the Jaguar brand. We have great belief in the potential of JLR’s distinctive premium products and brands as well as in JLR’s design and engineering capabilities,” said N. Chandrasekaran, chairman, Tata Motors, in a statement.

The Tata Group was committed to the long-term growth and success of JLR, Mr. Chandrasekaran added.

“We are confident that these inherent strengths, coupled with the focussed efforts by the management to drive performance in the medium term by improving its operational leverage will help JLR deliver consistent, competitive and cash accretive growth in the coming years,” he said.

“JLR will continue to face global headwinds being experienced by the auto industry and to address them, the management is taking the right steps to drive operational excellence, whilst continuing to invest in innovative products and technology to stay competitive globally,” he added.