jaguar:

It's Official: Jaguar Land Rover Has Been Sold

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Below the jump, you can read Tata‘s official statement on buying Jaguar and Land Rover, now Jaguar Land Rover, from Ford today. However odd it may seem for these illustrious British marques to be owned by an Indian conglomerate, Tata may well end up being an excellent caretaker.

Tata_JLR.jpg

At least initially, it seems that Tata Motors is looking to let the company continue with the product plans in place before the sale. Tata has ensured supply of needed engines and stampings through “long-term” agreements with Ford Motor Company and appointed David Smith the new Jaguar Land Rover CEO. Mr. Smith, who had been Jaguar Land Rover’s CFO, took on the role of acting CEO after Geoff Polites death in April. The appointment of a long-time Land Rover principal, holding twenty-five years with the SUV maker, indicates further support of the existing management staff.
As Tata gets more deeply involved, the business situation is bound to change. But the Indian company has patience, and seems to be ready to learn about the international business before making significant changes.


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