Tata Motors on Saturday said that it will discontinue its
JTP brand of performance cars due to reduced demand for such niche vehicles in the aftermath of the Covid-19
pandemic.
JT Special Vehicles (JTSV), a 50:50 joint venture between Jayem Automotives and Tata Motors, made high-performance versions of Tata Motors’ passenger cars. Formed in 2017, the venture had so far developed and marketed the
Tiago JTP and
Tigor JTP.
Tata Motors said that it will buy the 50% stake of Jayem Automotives in JTSV for Rs 1 lakh before discontinuing the venture.
The venture earned a revenue of Rs 11.3 crore in FY19 and Rs 5.9 crore in FY20, Tata Motors disclosed in a filing with the stock exchanges.