Jaguar and Land Rover will be getting their own form of bailout. According to the Financial Times, Tata Motors will inject “tens of millions” of pounds into Jaguar Land Rover to prevent an immediate cash flow crisis.
“The company is spending whatever is required to the best of its abilities,” Tata Motors spokesman Debasis Ray told the press. “A company has to run. We are doing everything to make the company run.”
Ray declined to say exactly how much Tata Motors will allocate for Jaguar and Land Rover. Tata bought the two luxury brands from Ford for $2.3 billion. The new investment comes on top of a “hundreds of millions” of working capital it has already provided to the British firms reported Financial Times.
Source: Detroit News