--
 
Top new models for SA

From Renault's new Alaskan bakkie to the latest models at the Frankfurt motor show bound for SA.

Electric cars in SA

The debate on whether or not Electric Vehicles (EV) are viable in South Africa rages on.

Tata may aid Jaguar, Land Rover

2008-12-23 06:53

Mumbai - India's Tata group may have to pump in at least $1 billion to revive premium brands Jaguar Land Rover that was bought by Tata Motors earlier this year, the Economic Times reported on Tuesday.

Tata Sons, the holding company that holds large stakes in group firms, and unlisted financial services unit Tata Capital are among the options being considered to raise the cash, the newspaper said, quoting unnamed company sources.

"We will do everything in our ability to resource all our operations," the paper quoted a Tata Motors' spokesman as saying, adding he declined comment on the size of funds required.

Tata Motors paid $2.3 billion to buy Jaguar Land Rover from Ford Motor Co earlier this year, just as global auto sales began collapsing. A spokesman for Tata Motors could not be immediately reached by Reuters for comment.

On Monday UK's Financial Times had reported that Tata Motors had agreed to inject "tens of millions of pounds" into Jaguar Land Rover to prevent an immediate cash flow crisis.

 

NEXT ON WHEELS24X

Inside Wheels24

There are new stories on the homepage. Click here to see them.