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Thread: OT: Jaguar and Land Rover sold to India

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    OT: Jaguar and Land Rover sold to India

    Ford sells Jaguar, Land Rover to Tata By TOM KRISHER, AP Auto Writer
    25 minutes ago


    Ford Motor Co. is selling its storied Jaguar and Land Rover businesses to India's Tata Motors Ltd. in a deal that will net the struggling U.S. automaker about $1.7 billion — roughly a third of the price it paid for the two luxury brands.

    The deal announced Wednesday will expand the Indian carmaker's reach around the globe.

    The agreement had been in the works for months as cash-strapped Ford sought money to fund its turnaround plan.

    Tata will pay $2.3 billion for the British brands, but at closing, Ford will pay about $600 million into the Jaguar-Land Rover pension fund, Tata's statement said.

    Ford bought Jaguar for $2.5 billion in 1989 and Land Rover for $2.7 billion in 2000. But it has been struggling and wants to focus on its main brands.

    Tata said it expects no significant changes in the terms of employment for Jaguar and Land Rover's 16,000 workers. It said the transfer of the brands would take place at the end of the second quarter.

    "Jaguar and Land Rover are terrific brands," Ford CEO Alan Mulally said in a statement. "We are confident that they are leaving our fold with the products, plan and team to continue to thrive under Tata's stewardship.

    "Now, it is time for Ford to concentrate on integrating the Ford brand globally, as we implement our plan to create a strong Ford Motor Company that delivers profitable growth for all."

    Tata said in its statement Ford will continue to supply engines, transmissions and other components "for differing periods." Ford also will continue to provide environmental and other technologies as well as engineering support.

    Tata Chairman Ratan N. Tata said his company will try to build on the brands' heritage, keeping their identities intact.

    "We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business," he said in a statement.

    Roger Maddison, an official with Unite, Jaguar and Land Rover's main labor union, said the deal is good news for the automakers' employees as well as those who work for parts suppliers.

    "Unite has secured written guarantees for all five UK plants on staffing levels, employee terms and conditions, including pensions, and sourcing agreements. The sale ensures our members futures and we look forward to working with Tata," Maddison said in a statement.

    Ford shares rose 8 cents to $6.08 in premarket trading Wednesday. Its shares have traded in a 52-week range of $4.95 to $9.70.

  2. #2
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    British brands owned by Indians.....who would have guessed that that could ever happen?

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    That's very interesting. I was just reading article the other day about an AIR POWERED CAR that Tata Motors was going to introduce to the US. Until then I had never heard of them. I guess that makes these air cars a little more creditable.

    Here's the article.

    The Air Car caused a huge stir when we reported last year that Tata Motors would begin producing it in India. Now the little gas-free ride that could is headed Stateside in a big-time way.

    Zero Pollution Motors (ZPM) confirmed to PopularMechanics.com on Thursday that it expects to produce the world’s first air-powered car for the United States by late 2009 or early 2010. As the U.S. licensee for Luxembourg-based MDI, which developed the Air Car as a compression-based alternative to the internal combustion engine, ZPM has attained rights to build the first of several modular plants, which are likely to begin manufacturing in the Northeast and grow for regional production around the country, at a clip of up to 10,000 Air Cars per year.

    And while ZPM is also licensed to build MDI’s two-seater OneCAT economy model (the one headed for India) and three-seat MiniCAT (like a SmartForTwo without the gas), the New Paltz, N.Y., startup is aiming bigger: Company officials want to make the first air-powered car to hit U.S. roads a $17,800, 75-hp equivalent, six-seat modified version of MDI’s CityCAT (pictured above) that, thanks to an even more radical engine, is said to travel as far as 1000 miles at up to 96 mph with each tiny fill-up.

    We’ll believe that when we drive it, but MDI’s new dual-energy engine—currently being installed in models at MDI facilities overseas—is still pretty damn cool in concept. After using compressed air fed from the same Airbus-built tanks in earlier models to run its pistons, the next-gen Air Car has a supplemental energy source to kick in north of 35 mph, ZPM says. A custom heating chamber heats the air in a process officials refused to elaborate upon, though they insisted it would increase volume and thus the car’s range and speed.

    “I want to stress that these are estimates, and that we’ll know soon more precisely from our engineers,” ZPM spokesman Kevin Haydon told PM, “but a vehicle with one tank of air and, say, 8 gal. of either conventional petrol, ethanol or biofuel could hit between 800 and 1000 miles.”

    Those figures would make the Air Car, along with Aptera’s Typ-1 and Tesla’s Roadster, a favorite among early entrants for the Automotive X Prize, for which MDI and ZPM have already signed up. But with the family-size, four-door CityCAT undergoing standard safety tests in Europe, then side-impact tests once it arrives in the States, could it be the first 100-mpg, nonelectric car you can actually buy?

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    Tata is a great company... I wish them all the luck

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    Quote Originally Posted by VAJET58 View Post
    That's very interesting. I was just reading article the other day about an AIR POWERED CAR that Tata Motors was going to introduce to the US. Until then I had never heard of them. I guess that makes these air cars a little more creditable.
    I'd read about Tata Motors in Forbes not too long ago. They're pretty big in Asia, with a car priced at around $2000, if I remember correctly.

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    A car company named after a set of boobs. Cool.


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    I have made money of the Tata ADR...............i dont own it now but have it on a watch list

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    This was expected to happen though. Ford has been shopping both brands for a while.

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    Quote Originally Posted by THE_SOOTHSAYER View Post
    A car company named after a set of boobs. Cool.

    Bodacious!

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    I hear the new model is great on gas.


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    I ride back and forth to work in a Tata Sumo. The Sumo is an SUV that's reminiscent of an 80's era Isuzu Trooper II. But Tata's are improving and they are everywhere here in Bangalore.

    Just a few months ago Tata unveiled the world's cheapest car, the Tata Nano.

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    Quote Originally Posted by THE_SOOTHSAYER View Post
    A car company named after a set of boobs. Cool.

    Thanks for your "thought-provoking" post.

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    Introducing the 2009 Tata Dirka Dirka Darba Darba Dot Dot Dot

  14. #14
    So my car is now owned by an Indian company?


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    India has a huge economy and is dying to get into the car market....a rich Indian entrpenuer bought an F1 team last year (Force India) and will be hosting a race in 2010...

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    Quote Originally Posted by theVinman View Post
    So my car is now owned by an Indian company?

    If you bought it, no. If you're financing it, probably yes.

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    I've been looking for a new SUV and was considering some LR models but I think I might hold off now. Not that I think a change in ownership would have an immediate effect on the ownership experience of a new car, but there could definitely be significant changes in models, design, strategy in the coming years that might make a current Range Rover Sport seem like a dinosaur in 4 or 5 years. It will be interesting to see how this Tata transition works.

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