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Jaguar & Land Rover head to India for £1.15bn

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posted on Mar, 26 2008 @ 08:33 AM
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Control of Jaguar and Land Rover (JLR) is set to move from America to India after Ford announced today that it had sold the luxury carmakers to Tata for $2.3bn (£1.15bn) in cash.

Tata said in a statement that it does not anticipate job cuts among the 18,000 JLR workforce, while Ford has promised to inject $600m (£300m) into the two companies' pension fund.

The sale ends Ford's 20-year ownership of JLR, in which it has invested billions of pounds into the two carmakers. While Land Rover is profitable, Jaguar has been a perennial loss-maker and a drain on Ford's finances.

Read complete article here

I think this would definitely have a bad effect on people live in UK or EU; Tata can sure sell these brands to other developing huge markets like Russia, China, India etc.




posted on Mar, 26 2008 @ 03:22 PM
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As long as they don't stop the production of the Land Rover Defender, I'll be a happy bunny. According to the reports I have read, the production will remain in the UK, hopefully securing the jobs of the workers.

I was just wondering how you believe this purchase will be bad for the UK/EU? Tata seem to be very profitable in all that they do, so with any luck they could turn a profit with Jag. Just don't stop the Landrover legacy... and ditch the Rangerover sport... its hideous...



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