Responding to a question on whether Tata-owned JLR was in talks with the UK government for a bailout package, Mandelson said it was too early to judge whether the state would be willing to help Jaguar Land Rover, which employs around 15,000 workers.
Jaguar Land Rover is planning to launch the stunning F-Type in India in July. The Freelander 2 is set to hit the market soon, too.
Tata Motors-owned Jaguar Land Rover has announced plans to shed 200 jobs across its UK operations but claimed that the redundancies were not connected with the economic downturn or slump in car sales.
The cash injection from Tata has bought ministers breathing space to respond to demands for multi-billion-pound loan guarantees from the car sector. Alistair Darling, chancellor, is understood to be concerned that any state support does not set too generous a precedent for other sectors.
'So what if they are remote-controlled, run on rechargeable batteries, are at least 100 times smaller than the \n\nreal thing and I am on the right side of 30?'
Less than a year after acquiring Anglo-Dutch steelmaker Corus, Tata Group appears close to taking over the reins of Ford's British marques - Land Rover and Jaguar, for which it is believed to have submitted a detailed offer of more than $2 billion. The home-grown business conglomerate is understood to be leading the race for the two brands at close of second-round of bidding on Friday, media reports said.
Ford Motor Co on Wednesday said it expects the sale of its two European marques Jaguar and Land Rover, in which India's Tata Motors has evinced interest, to be through either by this year-end or early next year.
Indian Air Force is planning to arm its Jaguar deep penetration strike aircraft with long range anti-ship missiles to boost its maritime warfare capability.
Tata Motors surpassed Maruti Suzuki (India) (MSIL) to become the most-valuable automobile company, in terms of market capitalisation (mcap), after a gap of seven years. With this, the company's stock hit a new high on the BSE on Tuesday (January 30). The combined mcap of Tata Motors (Rs 285.51 crore) and Tata Motors DVR (Rs 29,119 crore) stood at Rs 3.146 trillion.
The HAL and GE from the US would be producing these engines jointly in a facility in India.
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.
Reportedly insists on no loan guarantee if the government is not allowed any say in the company's future.
Sunday Times reports Tata Group has agreed in principle to invest pound 100 million alongside refinancing.
A constable and a Home Guard jawan, who reached the spot after the first accident of a collision involving two vehicles, were among those killed in the incident, they said.
The company has expanded its line-up to nine models with several variants, making it the most aggressive luxury auto player in the country.
The Jaguars, taking part in exercise 'Cope Thunder 2004', will cross the Atlantic helped by mid-air refuelling by the IAF's just acquired IL-78 giant tankers.
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
While declining to comment on the intended takeover bid for JLR by Tata Motors, another group company, Myers said the relationship was close to four years old.
The Indian Navy, which was earlier looking towards the US for design expertise, technical know-how and operational practices, is now considering the advantages of working with the Royal Navy.
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.
The Tatas are not alone in the race to take over British car makers Land Rover and Jaguar. Apart from the Tatas, three private equity funds and two other trading companies are expected to join the race for the British luxury car makers.
UK-based JLR posted 16 per cent growth in retail sales in the past year, highest in the luxury car segment globally, on the back of launches, output ramp-up and better reach in world markets.
Extraordinary award-winning photographs from more than 20,000 images from all over the world.
The triennial exercise will take place for two hours and fifteen minutes during the day, dusk and night, he said.
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.
Insurance companies sell off inventory of flood-damaged vehicles to cut losses.
Some serious cost-cutting has resulted in significantly lower losses at JLR.
As part of the Cope India 2023 exercise, five top-notch fighter jets of the two air forces took off in quick succession from the air force base.
Company chief executive David Smith said that he did not expect sales to return to normal levels "for some time." He added, "It is only right and proper that our response to the unavoidable impact of the credit crunch and a severe reduction in demand includes actions across all grades and functions in the company. It is critical that Jaguar Land Rover becomes a more efficient and dynamic organisation to face up to the challenges that we will meet in the years ahead."
Tata Motors-owned Jaguar Land Rover has announced plans to axe 400 more jobs in view of the current global economic downturn.
Tata Motors has acquired Ford's British marquees Jaguar and Land Rover for $2.30 billion in an all cash deal, sealing a deal that it pursued for nine months. Under the deal, Tata would continue to source engine from Ford, which would be paying about $600 million toward the pension liabilities of Jaguar-Land Rover employees.
The player draft for the much-awaited Global T20 Canada 2023 was held in a hybrid-form in Mumbai.
India's Tata Motors could sign a deal with Ford to buy the US carmaker's Jaguar and Land Rover marques as early as next Wednesday or Thursday, people familiar with the deal said on Tuesday.
She is the first person to win Album of the Year four times, with her latest prize for Midnights.
Jaguar team boss Tony Purnell feels the Australian driver is a world champion in the making.
The report quoted unnamed sources at Land Rover as saying, "It is definitely Tata. There is one final meeting and so long as there is no last minute hitches, which are not expected, then an announcement will be made on Friday." The final details would be worked out in the next six weeks, it added. The report also quoted a union official as saying that Mahindra's bid fell flat because of links to a private equity firm as the Indian firm was working with Apollo.
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.
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