Click on images to view the LRX and F-Type concepts in hi-res

Tata may have spent a huge sum of money in the acquisition of Jaguar and Land Rover from Ford's Premier Automotive Group, but that won't stop the Indian automaker from approving funding for new projects for its newly-acquired babies.

Among the new vehicles for which Tata has reportedly already given the green light are the Jaguar XE and Land Rover LRX. As we previously reported, the sports car known internally as the XE or F-Type will target the likes of the Porsche 911 and face competition from the upcoming Maserati sportscar in 2012 when it is anticipated to hit the market. Around the same time, Land Rover is expected to bring the LRX to market and produce the sporty ute at Land Rover's plant in Halewood, England. Despite the shift in ownership, the vehicles are tipped to still be produced in the UK, although a large government contract to supply India's armed forces with Land Rover Defenders could result in local manufacturing of that utility vehicle on the subcontinent.

Related GalleryLand Rover LRX Concept - Black & Silver

Related GalleryJaguar F-Type Concept

[Source: 4Car]