Posts Tagged ‘Tata’

Ford Motor Company Announces Agreement to Sell Jaguar Land Rover to Tata Motors

Wednesday, March 26th, 2008

Dearborn, MI — Ford Motor Company [NYSE: F] announced today that it has entered into a definitive agreement to sell its Jaguar Land Rover operations to Tata Motors.

The transaction is the culmination of Ford's decision last August to explore strategic options for the Jaguar Land Rover business, as the company accelerates its focus on its core Ford brand and “One Ford” global transformation.

The sale is expected to close by the end of the next quarter and is subject to customary closing conditions, including receipt of applicable regulatory approvals.

The total amount to be paid in cash by Tata Motors for Jaguar Land Rover upon closing will be approximately US $2.3 billion. At closing, Ford will then contribute up to approximately US $600 million to the Jaguar Land Rover pension plans. (more…)

Tata Motors unveils the People's Car

Thursday, January 10th, 2008
Tata Nano Standard Version
Tata Motors

Mr. Ratan N. Tata, Chairman of the Tata Group and Tata Motors, today unveiled the Tata ‘NANO’, the People's Car from Tata Motors that India and the world have been looking forward to. A development, which signifies a first for the global automobile industry, the People's Car brings the comfort and safety of a car within the reach of thousands of families. The People's Car will be launched in India later in 2008.

Speaking at the unveiling ceremony at the 9th Auto Expo in New Delhi, Mr. Ratan N. Tata said, “I observed families riding on two-wheelers — the father driving the scooter, his young kid standing in front of him, his wife seated behind him holding a little baby. (more…)