Tata Motors has confirmed that it is axing the Racemo project as part of its broader cost cutting drive.
This announcement was made yesterday during the declaration of Tata Motors FY2018 results. The money which was supposed to go to the Racemo project will now be diverted to making commercial vehicles.
But Tata Motors has also mentioned that it would consider any proposal positively which shows interest in taking over the Racemo project. As part of its cost cutting drive, Tata is also divesting its defense business and selling some assets related to it.
