Homegrown auto major Tata Motors has clinched the Jaguar and Land Rover deal estimated to be valued between $2-2.5 billion.
According to sources close to the development, the deal was signed last evening and is estimated to have cost the Tatas between $2-2.5 billion.
The deal has taken almost nine months to finalise as both Ford and Tata and their financiers sought to iron out issues seen as crucial to the future of the two British marques.
It is expected to cover long-term supply of engines to both brands from Ford.
During the race for JLR, in which India’s Mahindra & Mahindra was also in running for sometime, Tatas gained the crucial support from Unite - main trade union of Jaguar and Land Rover.
Tata has made India proud once again. I came to know about this news from NDTV 24×7. It is an excellent channel for NRIs that provides comprehensive coverage to news related to India. This channel is available in the US only through DirecTV.
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