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September 1, 2009

UK: Tata to raise cash for JLR unit

Tata Motors plans to raise at least GBP100m (US$162m) for its UK car-makers Jaguar and Land Rover, according to the Financial Times, citing Tata vice-chairman Ravi Kant.

Tata Motors plans to raise at least GBP100m (US$162m) for its UK car-makers Jaguar and Land Rover, according to the Financial Times, citing Tata vice-chairman Ravi Kant.

Tata Motors posted a consolidated loss for its fiscal first quarter but said it remained confident about the prospects of the loss-making JLR unit, whose sales fell by about 52% in the quarter from a year ago

Kant told the FT: “When volumes are down so much, it is a challenge. We need a little bit of support from the market.”

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