Indian conglomerate Tata might need to invest up to $1 billion more into its British brand – Jaguar Land Rover – in response to increasingly weak global conditions for automakers. Tata acquired Jaguar Land Rover from Ford earlier this year for $2.3 billion, but slumping auto sales across the world mean that it will take an injection of cash to help the companies survive.
“We will do everything in our ability to resource all our operations,” a Tata Motors spokesman told the Economic Times earlier today.
The newspaper quoted unnamed company sources when it reported that Tata Sons, the holding company that acquires large stakes in group firms, and Tata Capital, the group financial services unit, are the likely Tata brands that will be tapped for the cash.
“The company is spending whatever is required to the best of its abilities,” Tata Motors spokesman Debasis Ray told the Associated Press. “A company has to run. We are doing everything to make the company run.”
Tata bought Jaguar and Land Rover from Ford earlier this year and combined them into one overall holding group: Jaguar Land Rover.
12/23, 10:35 AM
posted by:
Borat
With any luck Rover will bankrupt Tata as well it bankrupt everyone else who owned it. Poetic justice?
12/23, 12:35 PM
posted by:
johnnycanuck
You mean Ford may actually have done something right for a change?
12/23, 1:31 PM
posted by:
Get Real
Welcome to the black hole of cash.
12/23, 6:35 PM
posted by:
lou3000
ALSO, Tata to lose $1b.
12/24, 10:49 AM
posted by:
idrinorbarsaku
is this money just so they can survive, or so they can create new cars?