Auto Tata Motors to hive off passenger vehicle business into separate subsidiary Updated : March 27, 2020 03:35 PM IST However, certain shared services and central functions will be retained at TML to deliver cost efficiencies for the entire group. This decision is a first step in the company's plans to secure mutually beneficial strategic alliances for the domestic PV business and help secure its long-term viability. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.