Indian car firm buys Jaguar

[Kahnee]

Tata Motors has agreed to take over Land Rover and Jaguar in a deal worth around £1 billion.

Ford was set to announce the Indian company will take ownership of the two British-based car companies today, in a deal which expected to safeguard about 16,000 jobs.

Tata, which already runs the former British Steel company Corus, has been in talks with Ford for some months.

The deal is likely to include a commitment from the Indian company to preserve the style of Land Rover and Jaguar.

Based at Solihull and celebrating its 60th anniversary this year, Land Rover has proved a profitable part of Ford since the American company took it over in 2000.

Jaguar, which cannot match Land Rover’s profitability, dates from 1945 and has plants at Castle Bromwich and Halewood, Merseyside.

Tata has already spoken of its commitment to the two marques and to UK motoring.

The company’s boss, Ratan Tata, said at this year’s Geneva Motor Show he planned to “retain the image, touch and feel” of both marques.

The takeover means some of the most famous British motoring names are in foreign hands, as BMW of Germany owns Mini and Rolls-Royce, while Volkswagen is in charge of Bentley.

[BDB]

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