Tata Group-owned British car maker Jaguar Land Rover announced on Wednesday that it had secured a 175 million (Rs 1,300 crore) from State Bank of India. This comes over and above the $90 million (Rs 420 crore) committed export financing facility with ABC International Bank, the company said.
JLR yet to decide on the exact location.
Jaguar Land Rover and Saudi Arabia's National Industrial Clusters Development Programme will now begin a detailed feasibility study together, to determine the viability of setting up an automotive facility, the company said in a statement.
Tata Indica, the Tata Group's big passenger car bet, was not delivering expected returns a year into its launch. Desperate, the Tata Motors brass, led by Ratan Tata, acceded to a meeting request from Ford Motors for a possible sale of the passenger vehicles division to the American auto major. Some people had advised Tata to sell the business, and the Ford officials came to Bombay House to hold talks.
Jaguar Land Rover India has unveiled the Jaguar F-Pace at the Auto Expo 2016 in Noida.
Tata's comments come a little over two weeks after JLR management and its workers agreed to a two-year pay freeze, subject to no compulsory layoffs for the next two years. This is also the first time the Tata chairman has made a direct public appeal to the UK government for credit support.
In Tata Motors' Annual Report for 2011-12, Tata said Jaguar Land Rover was developing higher-powered and more fuel-efficient engines to attract more customers.
It's a fourth consecutive monthly slide.
It will also double employment at the site to around 1,400.
Six days of meetings over two weeks between Tata Motors' Jaguar Land Rover (JLR) and its workers' union ended without agreement on terms of employment for new hires.
The new JV entity will also manufacture engines and set up a research and development centre in China.
Tata Motors-owned Jaguar Land Rover plans to set up an engine manufacturing facility in India in order to meet the demand in the country.
The company had sold 1,813 cars in 2011, JLR said in a statement.
"Tata Motors, which is engaged in focused and detailed negotiations with Ford on the Jaguar Land Rover business, clarifies that the company has had no discussions with Fiat on deployment of technologies developed by Jaguar and Land Rover," the Mumbai-based company said in a statement.
To be set up at Staffordshire, near Wolverhampton, the facility will manufacture a family of low emission 4-cylinderJLR petrol and diesel engines.
Apple Inc's iPhones assembled in India achieved market revenues of Rs 162,000 crore. Tata Steel's revenue for the same period was Rs 162,324 crore.
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JLR on Monday launched a new variant of Jaguar XF sedan for Rs 45.12 lakh
The company plans to induct 400 people during this year in UK alone and has already started the process to recruit 280 graduates in different verticals.
Tata Motors is hoping to beat its target year of 2030 and have 30 per cent of its portfolio comprising electric vehicles (EVs), according to Chairman N Chandrasekaran, who was speaking at the company's last annual general meeting (AGM) ahead if its demerger.
Supply chain workers called the strike over a pay dispute.
The fate of Indian conglomerate Tata group-owned Jaguar Land Rover is uncertain as talks with the UK government over a financial support package has virtually failed, media reports say.
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.
The 400,000 square-metres plant was launched within two years of foundation laying ceremony.
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 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.
The company had sold 1,01,112 units in the same month of 2013.
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.
'Spectre' will feature the Jaguar C-X75 driving through the moonlit streets of Rome.
JLR is looking to increase sales point in India to 20 by the end of the fiscal from the current four.
'Air they suck in is far dirtier than the air which comes out of it.'
Tata Motors (TaMo) is aiming to gain market share across its passenger vehicle (PV) and commercial vehicle (CV) businesses - targeting a 40 per cent share in CVs and a 16 per cent share in PVs by 2027. Meanwhile, it has already achieved earnings before interest, tax, depreciation, and amortisation (Ebitda) breakeven in its electric vehicle (EV) business at 1.2 per cent (up 830 basis points), ahead of its target of 2025-26 (FY26).
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
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.
The auto major said profit was impacted by an exceptional item of asset impairment in its British arm Jaguar Land Rover.
The race to become India's top luxury car company has heated up, with Tata Motors-owned Jaguar Land Rover (JLR) planning launches and local research and development (R&D) facilities to take on German rivals BMW, Audi and Mercedes.
The petrol powered luxury saloon, which is being made at the company' Pune plant, comes after the successful launch of locally produced diesel-powered Jaguar XJ 3.0L earlier this year.
Automobile giant Tata Motors' shares were in demand on Wednesday as the stock rallied as much as 3.69 per cent to hit an intraday high of Rs 671.80 per share, before settling 3.18 per cent higher at Rs 668.45. By comparison, the BSE Sensex settled 0.10 per cent, or 72.56 points, lower at 74,029.76.
Automotive (auto) major Tata Motors posted a 51 per cent drop in consolidated net profit for the January-March quarter (Q4) of 2024-25 (FY25), to Rs 8,470 crore, due to a deferred tax asset of almost Rs 9,000 crore in the corresponding quarter of the previous financial year and an exceptional item of Rs 566 crore during the quarter. Revenue was up just 0.5 per cent year-on-year (Y-o-Y) at Rs 1.18 trillion for Q4FY25.
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