2011 Jaguar XJ – Click above for high-res image gallery
Ford spent a fortune to buy Jaguar in 1989 and Land Rover in 2000, then spent billions on each of them getting them into fighting shape. Tata spent billions to buy JLR in 2008, and has since been raising and spending billions to retain their fighting shape and get them even fitter. The Indian firm is planning a funding round via shares, equity and the like in order to scare up another $1 billion.
Tata is a massive conglomerate and the funds will go to reducing the company's overall debt-to-equity ratio, but the number we were most interested in was £600 million pounds – almost the entire amount of the funding round, $908 million. That's the amount Tata says it will spend this year on new product development at at JLR.
In May we were told that Tata would invest £1 billion per year on JLR, but we won't quibble about being short £400 million for now with the Evoque, a meaner XKR, an XE and maybe also an F-Type being forged. So even if the Ford and Tata initial experience with JLR sound familiar, we give Tata credit: for all those billions they're spending, there isn't an X-Type in sight.
Related GalleryFirst Drive: 2011 Jaguar XJ