India's Coronavirus Lockdown Hits Tata Motors Hard as Jaguar Land Rover Suspends Production
With India, the world's second-most populous nation, going under a complete nationwide lockdown the next 3 weeks due to COVID-19, Tata Motors (NYSE: TTM) is bound to be hit hard. The nation's largest automaker previously planned to shut down a key plant in Pune, Maharashtra -- the worst hit coronavirus state in India -- for one week.
Tata Motors has now suspended operations until further notice , as per reports from the Society of Indian Automobile Manufacturers (SIAM). This comes after India's Prime Minister, Narendra Modi has ordered a "a total ban" on people "venturing out of homes" for the next three weeks.
The unprecedented lockdown in India comes right after Tata Motors announced a month-long suspension of production at Jaguar Land Rover (JLR) facilities in the UK on March 20. Until then, its JLR manufacturing facilities in India and Brazil were operating, but the latest developments in India will disrupt the company's plans.
Source Fool.com
