June 15, 2020 / 12:49 PM / 2 months ago

BRIEF-Tata Motors Exec Says Reviewing All Aspects Of Business To Cut Costs

June 15 (Reuters) - Tata Motors Ltd Exec:

* TOOK ASSET WRITEDOWN OF 25 BILLION RUPEES ON PASSENGER VEHICLE BUSINESS

* PLAN TO REDUCE CAPEX SPENDING IN JLR TO 2.5 BILLION POUNDS FOR FY21

* PLANNED CASH EXPENSE, COST REDUCTION OF 60 BILLION RUPEES FOR FY21

* INTENTION IS TO LOOK FOR STRATEGIC PARTNER FOR PASSENGER VEHICLE SUBSIDIARY

* REVIEWING ALL ASPECTS OF THE BUSINESS IN EFFORT TO CUT COSTS

* SEEING SOME GROWTH IN JLR SALES IN CHINA, US AND EUROPE ALSO SEEING SOME RECOVERY

* NET DEBT LEVEL IS UNSUSTAINABLE, TAKING STEPS TO DELEVERAGE Further company coverage:

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