Tata buys Jaguar and Landrover from Ford
Wed 26 March 2008
View all news
The Ford Motor Company has agreed to sell its Jaguar and Land Rover businesses to Tata Motors of India. Tata is reported to be paying $2.3bn in cash for the two brands in a deal that Ford say should be completed by the summer.
Tata, India's biggest vehicle maker, will take over the British brands which employ about 16,000 staff at UK plants in the West Midlands and Merseyside.
The $2.3bn price tag is about half the amount Ford originally paid for the marques. The BBC reports that although Land Rover remains profitable, Ford has never managed to make money from its investment in Jaguar.
Tata has recently made the news with the launch of the Tata Nano, the World's cheapest car targeted at the Indian market, as well as an announcement that it is to produce a car powered by compressed air
Related Links
< Back to news list