Tata Motors to bring Jaguar, Land Rover to IndiaAugust 25th, 2008 - 7:03 pm ICT by IANS
New Delhi, Aug 25 (IANS) Tata Motors Monday said it was looking to expand the footprint of Land Rover and Jaguar models and bring them to India.“Land Rovers are present in small numbers in Mumbai currently. Our colleagues at JLR (Jaguar-Land Rover) have chalked out plans for expansion in the country within a one year timeframe, which will be followed by the entry of Jaguar,” Rajeev Dubey, president of passenger cars division of Tata Motors, told reporters here.
Tata acquired Jaguar and Land Rover from Ford Motors in an all-cash deal worth $2.3 billion.
In May this year, the company said it planned to raise Rs.72 billion in the capital market to fund the acquisition.
In a filing with the Bombay Stock Exchange last week, the company said the financing plan of the deal, which was announced May 2, has been reviewed considering the current situation of the capital market and price changes in the stock market since May 2008.