“The order and advance we have received remains programme-driven and we intend to begin supplies soon and complete deliveries in a phased manner as per our commitment,” the company stated in the filing.
On February 10, Tata Motors CV had announced that PT Tata Motors Distribusi Indonesia, a wholly-owned subsidiary, had entered into an agreement to supply 70,000 vehicles for deployment in the south-east Asian country.
The order was for 35,000 units each of the Yodha Pick-up and the Ultra T.7 truck, which will be delivered to PT Agrinas Pangan Nusantara, a state-owned enterprise of Indonesia, focusing on modernizing agricultural supply chains, and advancing food security initiatives.Financial considerations for the order were not disclosed either in the February 10 filing, or in the March 2 release.
Bloomberg had reported on February 27 that Indonesia has halted an order for 1,05,000 trucks from Tata Motors and Mahindra & Mahindra, following a pushback from policymakers.
The report also quoted Indonesia’s Cooperatives Minister Ferry Juliantono’s interview to a local TV station, where he said pausing is the “right step to avoid further controversy” and that a solution will be found together when the time comes.
M&M had stated in its release that the order for 35,000 Scorpio Pik-Ups would have been the largest export order ever.
Shares of Tata Motors Commercial Vehicles had ended 1.44% lower on Monday at ₹498.
