Tata Purchase Jaguar and Land Rover
Ford has announced the sale of Jaguar and Land Rover to the Indian car manufacturer Tata. The sale is expected to close within the next quarter subject to closing conditions, with the final price said to be around $2.3 billion.As part of the agreement Ford will continue to supply Jaguar Land Rover for differing periods with powertrains, stampings and other vehicle components, in addition to a variety of technologies, such as environmental and platform technologies to support Jaguar Land Rover's current product plans. Speaking on behalf of Jaguar Land Rover, CEO Geoff Polites said, "Jaguar Land Rover's management team is very pleased that Ford and Tata Motors have come to an agreement today. Our team has been consulted extensively on the deal content and feels confident that it provides for the business needs of both our brands going forward."