Tata Motors Limited has issued an official notification, reassuring stakeholders that recent issues at the UK port had not caused any immediate impact for Jaguar Land Rover (JLR).
The statement has come on the heels of a ruckus at British ports caused by border closures. This week, France blocked arrivals of UK passengers and freight for 48 hours over concerns about the new coronavirus variant. Subsequently, an angry crowd rallied at the Port of Dover in the UK to express frustration over the cross-channel ban that left hundreds of truckers stranded. The temporary ban disrupted logistics and resulted in chaos at the UK port.
The automaker said, "Jaguar Land Rover has comprehensive contingency planning and actions in place to respond to ongoing COVID challenges and disruption. This is subject to constant review". "Our guidance of improved growth, profitability, and cash flows in the second half of the year continues to hold," Tata Motors added.
However, on Tuesday, trade and transportation links between the UK and continental Europe resumed after France agreed to end suspension despite fears over a new Covid-19 variant. The UK and France struck a deal to allow truck drivers, French citizens, and residents across the English Channel to enter France. All freight truck drivers are required to take an antigen test that can detect the new strain of Covid-19 and provide results in under an hour.
Jaguar Land Rover, part of Tata Motors since 2008, is Britain's largest automotive manufacturer. Tata Motors earns 47 per cent of its revenue from the UK and the European Union (EU) markets. Tata Motors stock on Wednesday jumped 4.05 per cent to Rs 176.05 on the BSE at 2:23 PM (IST).
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