Tata Motors' sportscar project TaMo RaceMo up for sale to raise funds?

• TaMo brand was introduced in February 2017
• TaMo RaceMo sportscar was intended to hit the market in 2018
• RaceMo project reportedly up for sale to raise funds

Tata Motors, the Indian joint formed the sub-brand, TaMo in February 2017. The first product from the new brand was a race car, RaceMo, that debuted at the 87th edition of Geneva Motor Show in March, last year. The intention was to focus on low-cost ownership, eco-friendly drivelines and modular architecture.

After a promising start, Tata Motors seems to be in a dilemma and it may sell the RaceMo project altogether, according to reports. The company has put up for sale the only race car project thus far, along with stakes in other group companies to raise funds, reports Moneycontrol.

Tata Motors was forced to keep the TaMo brand in cold storage after an unprecedented downturn in company's commercial vehicle division in mid-2017. There were reports that the company may revive the project but new updates indicate that that might not be part of the plan.

In a statement, Tata Motors has said "Significant disruptions in the auto industry necessitating a review of our product development costs capitalisation policy. One time charges taken for those projects that are not being taken forward for affordability check."

Though the statement says nothing about the RaceMo project, it can be noted that there has been no news about TaMo for a very long time.

The report also claims Tata Motors has written off the working capital of Rs 1,641 crore in some of the vehicle projects which it does not intend to carry into the future. It will also sell stakes in Tata Technologies, Tata Hitachi and 'small shareholdings in other group companies.'

TaMo RaceMo

The TaMo RaceMo is a two-seater sports coupe and it was showcased as India's first connected car at Geneva. Powered by Microsoft, the Racemo was supposed to integrate connected technologies such as cloud computing, analytics, mapping and increased human-machine interface.

Based on the MOFlex Multi-Material Sandwich (MMS) platform, the RaceMo was initially showcased with a 1.2-litre Revotron turbocharged three-cylinder engine with 187bhp of power and 210Nm of torque outputs mated to a six-speed automated manual transmission.

At the India debut of the RaceMo during Auto Expo 2018 in February, Tata Motors also introduced an electric engine version. Christened as RaceMo +, the electric motor is capable of developing 200hp of power and it will come linked to a lithium-ion battery pack. Reports claim the RaceMo + can travel a total range of 350kms at a full charge.