TATA’s Land Rover seeks 781 m pounds in UK Govt. loans

October 7th, 2009 LONDON - Jaguar Land Rover (JLR), the troubled British carmaker, has secured 500 million pounds of new finance, including a 175 million pound loan from the State Bank of India, according to reports Wednesday. Tata Motors-owned JLR, which employs 14,500 people in Britain, has also won a $90 million (57 million pounds) export financing facility with ABC International Bank, the Daily Telegraph said in an online report.

August 11th, 2009 Jaguar Land Rover secures private fundingLONDON — The Indian owner of car and sport-utility vehicle maker Jaguar Land Rover said Tuesday it no longer needs government funding after securing a 175 million pound ($288 million) private sector loan. Tata Motors said it has secured some direct bank loans as well as guarantees that will allow it access to European Investment Bank funds.

July 21st, 2009 LONDON - Britain's Business Secretary Lord Peter Mandelson has urged Tata Motors to respond quickly to a revised offer of government funding for its luxury Jaguar Land Rover (JLR) brands. Tata Motors, advised by Citigroup and Standard Chartered, is seeking a government guarantee for a 340-million-pound, three-year European Investment Bank loan, plus guarantees for private bank loans worth nearly 500 million pounds.

July 6th, 2009 British fraud office to investigate MG Rover caseLONDON — Britain's Serious Fraud Office will investigate the collapse of MG Rover following an independent inquiry in to the car marker's demise four years ago, the government said Monday. Business Secretary Peter Mandelson said in a written statement that he had ordered the agency to "consider whether there should be a criminal investigation" in light of the report.

June 28th, 2009 MUMBAI - Three months after launching Nano, the world's most inexpensive family vehicle at the Rs.1 lakh, Tata Motors Sunday launched here the iconic Jaguar and Land Rover cars, to cost between Rs.63 lakh and Rs.92 lakh in India. Tata Motors chairman Ratan Tata said initially, three Jaguar and two Land Rover models would be available in the country.

June 28th, 2009 MUMBAI - Nearly 16 months after acquiring the iconic Jaguar and Land Rover brands, Tata Motors formally launched the luxury cars in India here Sunday. Tata Motors chairman Ratan Tata said initially, three Jaguar and two Land Rover models would be available in the country.

June 27th, 2009 LONDON - Tata Motors has said that more UK job cuts are likely at Jaguar Land Rover, which sent India's largest carmaker to a thumping loss for the year. Tata Motors vice-chairman Ravi Kant said JLR global sales for the 10 months to March fell by 32 percent to 167,000 vehicles from 246,000 the previous year.

May 7th, 2009 LONDON - : Tata Motors, the parent company of Jaguar Land Rover, has said that it will reject a British Government loan guarantee needed to save the troubled British carmaker. A Sky News report said that Jaguar Land Rover received a final offer on a 450 million pound loan from the business department last week, but the Government wanted a 15 percent commission on the loan.

May 1st, 2009 MUMBAI - Tata Motors-owned British luxury car maker Jaguar Land Rover (JLR) is set to launch its premium brands in the Indian market later this year, the company said in a statement Friday. 'We are delighted to be formally entering the Indian market, an economy which is still growing appreciably, and able to offer our premium products to a whole new group of customers,' a JLR statement said.

April 30th, 2009 LONDON - The wrangling between the Treasury Department and the Lord Mandelson-led Business Department might delay an 800 million pound emergency package for the Tata owned Jaguar Land Rover. Jaguar Land Rover executives fear that even if they can agree terms with the Treasury for the refinancing it may be months before they receive the cash.

April 6th, 2009 LONDON - The TATA-owned struggling motor group Jaguar Land-Rover looks to set to receive a European bailout package of 270 million pounds to safeguard as many as 14,500 jobs in the UK. JLR has been one of the victims of a 22 per cent drop in UK car sales over the last year.

March 25th, 2009 LONDON - Ratan Tata, head of Tata Motors, which bought Jaguar Land Rover for more than one billion pounds, has said that the JLR may face huge damages unless the British Government stumps up 500 million pounds worth of loan guarantees. The group is not looking for a cash hand out, but needs government backing to squeeze much-needed working capital out of the UK's frozen banking systems, Sky News quoted Tata, as saying.

March 12th, 2009 LONDON - The British Government has offered a grant of up to 27 million pounds to TATA-owned Jaguar Land Rover for the production of a new 'green' car. According to a Sky News report, the company will make a decision later this year on whether to go ahead with the 400 million pound project at its factory at Halewood on Merseyside.

March 1st, 2009 LONDON - China has come to the aid of beleaguered Tata-owned Jaguar Land Rover carmaker with a massive order of 13,000 vehicles. The order, for both Land Rover and Jaguar cars and worth 600 million pounds, was described by Jaguar as 'very significant' and particularly welcome at 'this challenging time'.

January 13th, 2009 LONDON - Ailing British luxury carmaker Jaguar Land Rover is to axe 450 jobs, including those of 300 managers, as part of a cost-cutting scheme following a 'severe reduction' in demand for new cars, the company said Wednesday. The firm, which was bought by India's Tata group for 1.7 billion pounds ($2.5 billion) last year, employs a staff of 15,000 at plants in Britain.