• Jan 3, 2008

Previous rumors that Indian automaker Tata was chosen by Ford from among a group of bidders to buy Jaguar and Land Rover have proven to be true, as both Tata and Ford announced earlier today that they have moved into advanced negotiations on the sale of the two British marques.

Although both companies were quick to point out that there are still a number of steps before the deal is finalized, informed insiders have confirmed that the two competing bidders, Mahindra & Mahindra Ltd and One Equity Partners LLC, have effectively been rejected in favor of Tata.

Factory workers at Jaguar and Land Rover in England were reportedly informed shortly before the announcement went public. Ford, the biggest seller of automobiles in the UK, reportedly wants the new owner of Jaguar and Land Rover to retain the bulk of their existing 15,300-strong British work force, and Jaguar's principal union has expressed its preference for Tata.

Although Ford needs the cash injection from selling off its subsidiaries, the automaker is anticipated to pursue a similar relationship with Jaguar and Land Rover that it maintains with Aston Martin: continuing to supply components, including engines, even after the divisions are sold off.

Follow the jump to read the official statement from Ford of Europe and PAG chairman Lewis Booth.

[Source: Detroit Free Press]


PRESS RELEASE:

STATEMENT: POTENTIAL SALE OF JAGUAR LAND ROVER

DEARBORN, Mich., Jan. 3, 2008 – The following statement is attributable to Lewis Booth, executive vice president – Ford of Europe and Premier Automotive Group (Chairman – Jaguar, Land Rover, Volvo and Ford of Europe):


"Ford is committed to focused negotiations at a more detailed level with Tata Motors concerning the potential sale of the combined Jaguar Land Rover business."

"There is still a considerable amount of work to do, and while no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned."



I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 13 Comments
      • 7 Years Ago
      I hope that the new owners do something about the atrocious reliability of Land Rover
      • 7 Years Ago
      I was actually in the process of considering an LR3. I love the history and elegence of this brand. It was bad enough when Ford bought it. Its an absolute sin that an Indian frim will own it. I guarantee sales plummet. I will be the first in the phenomena. No way am I goning end up with a faux luxury brand run by a bunch of hacks in India.

      What a shame.
      • 7 Years Ago
      I remember when BMW took a lot of technology such as the Hill Decent Control system from Land Rover for use in their X5 before they dumped Rover for good.
      • 7 Years Ago
      I just love your tata's!
      • 7 Years Ago
      Here's a question: How will Tata handle Jaguar's use of cowhides going forward? Don't the Hindus revere the cow a special animal?
        • 7 Years Ago
        Tata is owned by Non-Hindus. The CEO Ratan Tata belongs to the ParsiZoroastrian religion. Also many cars in India have leather interiors.
      • 7 Years Ago
      Someone explain to me how Ford is keeping there technology information from being spread all over the place when this buyout happens?

      I know BMW made a big stink about how Ford took alot of BMW's technology when Ford bought Land Rover from BMW way back when. Some say that is where Ford's modular engines came from.
        • 7 Years Ago
        Please don't speak when you don't know what you are talking about.

        The Ford Modular Engine family was developed well before Ford bought Land Rover in 2000.

        http://en.wikipedia.org/wiki/Ford_Modular_engine

        If you could point out some articles where BMW made a big deal about Ford stealing technology I would appreciate that. I don't remember reading anything about it at the time and no one I know at Land Rover has ever mentioned it to me.
        • 7 Years Ago
        Yeah, the modular engines began development back in 1989.

      • 7 Years Ago
      Ford picks a Tit?
    • Load More Comments