Tata-owned Jaguar Land Rover (JLR) is expected to announce that it has secured a GBP170m loan from GE Capital.
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The Financial Times reported that the working capital facility has been secured on a five-year basis and that it will boost the working capital for JLR by shortening the gap between vehicle production and distribution to dealerships.
“We are talking to several other European carmakers about a similar facility, but as far as we know, this is the first of its kind,” Rich Green, chief executive officer of GE Capital’s distribution finance business said in the Financial Times.
