Tata Completes Jaguar Land Rover Acquisition
It is now official, Tata Motors owns both the Jaguar and Land Rover brands. Ford has handed over the rights to both brands in a ceremony held at Jaguar Land Rover headquarters in Gaydon, UK.
At the ceremony Mr. Ratan Tata, Chairman of Tata Sons and Tata Motors, Don Leclair, Executive Vice President and CFO of Ford, and Lewis Booth, Executive Vice President of Ford and responsible for Ford Europe were present. David Smith will be the new CEO at Jaguar Land Rover.
Mr. Tata said, “This is a momentous time for all of us at Tata Motors. Jaguar and Land Rover are two iconic British brands with worldwide growth prospects.” He continues to say that both British brands will retain their own unique identities and that Tata will give its full support in order to grow prosper.
Tata Motors has eventually paid USD 2.3 billion in cash while Ford has contributed USD 600 million to the Jaguar Land Rover pension plans, leaving Ford with USD 1.7 billion. Ford and Tata have agreed on long term cooperation plans in regards to the supply of engines, stampings and other components to Jaguar Land Rover.
Well, I for one am excited to see what will happen. Good luck, Tata!
REVENGE!!!!!!!!!!!!
THE EMPIRE STRIKES BACK!!!!
All the best, Tata!!!!
Take the "A" off tata and what do you have? TAT! as in rubbish , i cannot see the standard of the landrovers being the same anymore , as many people say this is the end of land rover , im glad i still own a 1988 original 68,000 miles defender.
Obviously, you're British. I was just joking!!!! I did'nt mean to hurt anyone. :)
what?? being let go of by ford is the biggest step in the right direction lol
No the quality of materials will be very much lower and has nothing todo with ford.
Ford are nuts for getting rid of JLR for just $1.7b. I'm sure they will be making for profit then that over the next few year. Although it the best for JLR to be out of the control of Ford crackpots!
Come on you Europeans Meat Head. Jaguar and Land Rover makes crap cars and unreliable anyway. They can't sell their cars, over price and reliability are crap. I would make a bet with you guys, Tata Corp(India) will do much better job.
You are so ill informed it is hard to know where to start. let me try by referring you to recent JD Power surveys which show Jaguar to be amongst the best built cars around.
And why do you think the quality standard of the cars will drop? They're being made in the same factories by the same people and there will still be a supply agreement with Ford too. Your comments seem to lack much evidence.
So whats the first thing a big company does when it buys another , cuts back on materials and people , so then the cheaper parts come in ie Britpart (which imports parts from china) then they say that Staff and the production of vehicals in the uk is too expensive , so they transfer it abroad , use cheaper non high quality metals and so on , i do understand that landrover/jaguar are not the most reliable in the world and its always good for new investment , Not so much straight away but down the line it will happen , i mean its over £400 to tax a defender and alot of people will not pay that.
Wow!! u r so well informed.. thats y u couldnt do anything to save ur own brand n needed a company from another country to save its a**.. now i wonder how JLR lost money, sure many ^^ such people would have run it..
Maybe if you are selling white goods my friend, but not when you have just bought your way into two prestige brands with 50 years of heritage. Mercedes took a kicking for scrimping on quality a few years ago and JLR has enough challenges without making itself new ones.
I have to say, I don't believe any of what you are saying will happen in a way that brings the results you claim.
Good Luck Tata.. prove all ur foolish detractors wrong n show Ford how to run a business empire! ;)
most of u ppl underestimate TATA. true theyr unknown around the world. tata just came up with the 2500$ car which may look n feel cheap but its no small achievement.they are the biggest name in india and the man behind tata is a true industrialist. im sure hes gonna do a much better job than ford.
Really? Based on what? What do you have to point at as evidence?
Ummm.... I wish luck! The 2 brands are nice! Plz make them more developed