New video from NASA's Mars 2020 Perseverance rover chronicles major milestones during the final minutes of its entry, descent, and landing on the Red Planet on February 18 as the spacecraft plummeted, parachuted and rocketed toward the surface of Mars. A microphone on the rover also has provided the first audio recording of sounds from Mars.
Tata group-owned Jaguar Land Rover (JLR) has secured a 170 million pounds (about $ 284 million) loan from GE Capital in a move to strengthen its financial position, media report says.
Tata Motors, which owns Jaguar and Land Rover, is in talks with the UK government on assistance for the luxury units as sales have plummeted.
Tony Woodley, joint general secretary of Unite, said that there was little reason for the British government not to act now that Tata Motors had injected more cash. 'I would now be extremely surprised if the government did not give financial support to the company as well and I would be very surprised if it wasn't this side of Christmas. I would be disappointed if there was not confirmation of the availability of a loan or credit guarantees at least,' he said.
Tata Group on Wednesday announced an investment of 4 billion pounds (about Rs 42,500 crore) in setting up a flagship factory to make batteries for Jaguar Land Rover as well as other manufacturers. Tata Sons, owner of JLR, chose Bridgwater in Somerset in southwest England for the gigafactory over a rival location in Spain. The gigafactory, at 40GWh, will be one of the largest in Europe and Tata's first outside of India, the conglomerate said in a statement.
Jaguar and Land Rover, the UK based carmakers, are to set up dealership networks in India soon as they seek to use ties with Tata Motors, their new owner, to find new markets.
Sales of luxury brands from Jaguar Land Rover were at 20,358 units during June, up one per cent from the same month last year.
Tata Motors will see 'strong operational recovery of its domestic business, which we believe should be the prime driver of stock valuations', Merrill Lynch said in a research report, adding that 'Jaguar Land Rover is likely to recover next year'.
If the UK government's help does not come soon, Indian owner Tata Motors will have to cut down its investment plans for Jaguar Land Rover with possible job losses and plant closures, a media report said.
JLR is looking to increase sales point in India to 20 by the end of the fiscal from the current four.
Tata Motors' luxury automotive brand, Jaguar, bagged a three-year order to supply 13,000 units of its range to a Chinese company earlier this year. Its Land Rover, jointly with Jaguar, is charting new territories for expansion.
Expressing satisfaction at Indian conglomerate Tatas' move to pump in money into Jaguar Land Rover, the head of the UK's biggest union Unite, Tony Woodley, has said he expects the Gordon Brown government to offer financial aid to the luxury car maker.
With no signs of financial aid coming from the UK government, Indian conglomerate Tatas have agreed to inject "tens of millions of pounds" into its British car company Jaguar Land Rover, says a media report.
Tata Motors has sold one Jaguar and Land Rover model a day since it launched the marque brands in India just under a month ago -- on June 28. But that's enough to satisfy the company and has, in fact, come as a surprise to many market experts.
'Jaguar Land Rover will manage the long-term impact and implications of this decision.'
Tata Motors on Monday said its global sales increased by 36 per cent in July to 90,646 units on robust demand for both commercial and passenger vehicles.
"The process (of raising the amount) is over. Tata will borrow the money from us (the banks consortium) on Monday and might come with an official announcement in the next few days," a source close to the development told PTI. Tatas had entered into a definitive agreement with Ford to buy Jaguar and Land Rover in March for $2.3 billion. The $3 billion fund raising included Tata Motor's other committements as well.
The UK government today approved a grant of pound 27 million to Tata Group-owned Jaguar Land Rover
They were touted as prestigious takeover trophies won abroad, but there is no mention of the Tatas at the Internet addresses of luxurious car brands Jaguar and Land Rover.
Overall, volume growth is likely to be in the range of 3-8 per cent for two-wheelers and 5-7 per cent for passenger vehicles owing to healthy demand from urban and rural areas and pending order books.
The management of luxury carmaker Jaguar is 'entirely relaxed' about the prospects of Indian conglomerate Tata Group taking over the brand along with Land Rover. Earlier, this month, Ford had named Tata Motors, which is part of the Tata Group, as the preferred bidder for its British marquees -- Jaguar and Land Rover, but a final decision for the sale is yet to be taken.
From The New York Times to BBC and The Guardian to The Washington Post, the historic event in India's space programme on Wednesday made headlines across the globe.
Not wanting to alienate other suitors including Mahindras, Ford may wait till the new year to announce the winner for its Jaguar and Land Rover brands, although Indian conglomerate Tatas have emerged as the top choice, media reports said in London on Friday. "Tata Motors is set to be chosen by Ford as the preferred bidder for Jaguar and Land Rover as early as Friday," a report in Financial Times said quoting people close to the situation.
Leading Indian public sector banks State Bank of India, Bank of Baroda and Syndicate Bank are close to committing a part of the $3 billion bridge loan that Tata Motors has to raise to finance the acquisition of Jaguar and Land Rover from Ford.
Tata Motors shares fall 2%; m-cap erodes by Rs 5,521 cr.
Indian conglomerate Tata and US car maker Ford are expected to complete the deal of the latter's luxury brands Jaguar and Land Rover within a few days, a media report said on Monday. According to The Guardian newspaper, Ford is expected to complete the sale of Jaguar and Land Rover to Tata "within a few days." However, neither side has put a price on the marques. The price tag is likely to get closer to $ 2 billion. The deal was prolonged due to complexities in the agreement.
Sales of commercial vehicles declined 24.51 per cent in June to 31,384 units from 41,577 units a year ago.
The final rites of renowned industrialist and philanthropist Ratan Tata were performed with full state honours at a central Mumbai crematorium on Thursday evening. The Mumbai police paid tribute to Tata with a gun salute.
From its lows in December, the stock of Tata Motors is up about 15 per cent. The gains came on the back of better than expected December volumes in its UK-based subsidiary Jaguar Land Rover (JLR). This coupled with gradual recovery in the global passenger vehicle demand, improving profitability due to product mix and lower commodity costs are expected to be key positives for the company.
Auto industry volumes have grown by 2.5 per cent overall, led by domestic sales of three-wheelers, two-wheelers and passenger vehicles (PVs) in the first quarter of this financial year. Analysts predict an 18 per cent growth in revenues for automotive original equipment manufacturers (OEMs) and profit growth of 69 per cent year-on-year (YoY). However, on a sequential basis, a decline in revenues as well as earnings before interest, taxes, depreciation, and amortisation (Ebitda) margins is expected.
Tata Motors on Monday announced the demerger of its commercial and passenger vehicle segments into two separate listed entities to better capitalise on growth opportunities. The commercial vehicles business and its related investments would be housed in one entity while the passenger vehicle business, including electric vehicles, Jaguar Land Rover (JLR) and its related investments, would be part of the second entity, the auto major said in a regulatory filing. Tata Motors chairman N Chandrasekaran said that Tata Motors has scripted a strong turnaround in the last few years.
For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
JLR is the UK's largest carmaker, which has witnessed a complete turnaround in its fortunes since Tata Motors acquired the traditional British brands from Ford 10 years ago.
What transpired during that drive was one of the most compelling investment pitches made by an Indian state in decades.
The company is banking on investments lined up for product development and other innovations.
An entire nation waited, praying and hoping fervently, as the countdown to touch down on the moon wound to a slow close on Wednesday with many thousands gathering in schools, places of worship and elsewhere and scientists doing last minute checks to ensure Chandrayaan-3 makes a soft landing on the lunar south pole.
The Chang'e-4 spacecraft scripted history on Thursday when it made the first-ever soft landing on the far side of the moon.
China's first moon rover is back to work after a "nap" and has succeeded in sending back the first images of the national flags on itself and the lander, space authorities said on Sunday.
In a huge setback to China's ambitious space programme, its first lunar rover Yutu or the Jade Rabbit was declared dead after attempts to revive it failed, media reports said on Wednesday.
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
