Interesting news, good for LAC :

Tata Motors unit JLR going all electric, appoints Marc Llistosella as CEO

• Tata Motors (NYSE:TTM) wholly owned subsidiary Jaguar Land Rover aims to become a net zero carbon business by 2039.
• Land Rover to produce six pure electric variants in the next five years, with the first all-electric variant to arrive in 2024.
• Jaguar Land Rover is on a path towards double-digit EBIT margin and positive cash flow, with an aim to achieve positive cash net-of-debt by 2025 with a value creation approach delivering quality and profit over-volume.
• Jaguar and Land Rover will offer pure electric power, nameplate by nameplate, by 2030. In addition to 100% of Jaguar sales, it is anticipated that around 60% of Land Rovers sold will be equipped with zero tailpipe powertrains.
• Annual commitments of circa £2.5B will include investments in electrification technologies and the development of connected services to enhance the journey and experiences of customers, alongside data-centric technologies that will further improve their ownership ecosystem.

Gigafactory 6? Tesla setting up next plant in southern India

• Tesla (NASDAQ:TSLA) has picked Karnataka for its first plant in India, according to the southern state's chief minister BS Yediyurappa.
• The confirmation comes a month after the company registered its subsidiary Tesla India Motors and Energy Private Limited in the state's capital of Bengaluru.
• The city houses one of the biggest clusters of technical and R&D centers in the country, boasting more than half a dozen auto companies and more than 45 EV startups. EVs currently account for about 1% of India's annual car sales.
• Elon Musk has also tweeted several times about the company's impending foray into India, and in December, the CEO confirmed that Tesla will launch in the country in 2021.
• "India is going to become a No.1 manufacturing hub for auto in five years," said Nitin Gadkari, India's Minister for Road Transport & Highways and the Minister of Micro, Small and Medium Enterprises.