of Futuristic Infantry Combat Vehicles in collaboration with DRDO. In 2013, Tata Motors announced it will sell in India, the first vehicle in the world to run on compressed air (engines designed by the French company MDI) and dubbed "Mini CAT". In 2014, Tata Motors introduced the first Truck Racing championship in India "T1 Prima Truck Racing Championship". On 26 January 2014, the Managing Director Karl Slym was found dead. He fell from the 22nd floor to the fourth floor of the Shangri-La Hotel in Bangkok, where he was to attend a meeting of Tata Motors Thailand. On 2 November 2015, Tata Motors announced Lionel Messi as global brand ambassador at New Delhi, to promote and endorse passenger vehicles globally. On 27 December 2016, Tata Motors announced the Bollywood actor Akshay Kumar as brand ambassador for its commercial vehicles range. On 8 March 2017, Tata Motors announced that it has signed a memorandum of understanding with Volkswagen to develop vehicles for India's domestic market. On 3 May 2018, Tata Motors announced that it sold its aerospace and defence business to another Tata Group Entity, Tata Advanced Systems, to unlock their full potential. On 29 April 2019, Tata Motors announced a partnership with Nirma University in Ahmedabad to provide a B.Tech. degree programme for employees of its Sanand plant. On 24 March 2020, Tata Motors Ltd announced that it would spin off its passenger vehicles arm as a separate unit within the company. On 5 March 2021, Tata Motors' shareholders approved hiving off its passenger vehicles business into a separate entity. In August 2021, as a complimentary reward for Indian Olympians who finished close fourth in Tokyo Olympics 2021 and missed the place for Bronze, the company planned to recognize the efforts by gifting an Altroz hatchback. On 23 August 2021 Tata Motors announced it will launch its mini SUV Punch in the ongoing festive season. On 30 May 2022 Tata Motors announced that it has signed an agreement to acquire a Ford India manufacturing plant in Sanand, Gujarat. Tata Motors agreed to pay 7.26bn rupees ($91.5m) for the manufacturing plant. In December 2022 Tata Motors had a Market cap of Rs. 11,71,481.89 crore. Operations Tata Motors has vehicle assembly operations in India, the United Kingdom, South Korea, Thailand, Spain, and South Africa(Formerly). It plans to establish plants in Turkey, Indonesia, and Eastern Europe. Tata Motors Cars Tata Motors Cars is