Land Rover’s new owner, Tata Motors, plans on producing vehicles for the SUV brand in India starting next year, according to CEO Ratan Tata. Tata, which also bought Jaguar from FoMoCo in 2008, is also in talks in setting up an assembly line operation in China.
Shares of Tata Motors today rose to their highest level in more than 19 years after the company posted a first-quarter profit on demand for Land Rover SUVs and Jaguar sedans.
The company posted a net income of 19.9 billion rupees ($430 million USD) in the three months that ended June compared with a loss of 3.3 billion rupees a year earlier. Sales were up 64 percent.
– By: Stephen Calogera