Tata Motors secures private sector loan for its luxury unit Jaguar Land Rover
By Andrew C., 27 Aug, 2010. 0 Comments
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Tata, India's largest truck maker, fell short of achieving its target of £1 billion ($1.65B U.S.) in loans to keep the JLR group going but it has been announced that Tata secured a £175 million ($289M U.S.) loan from private sources. Tata reportedly refused to sign with the government since it couldn´t get around the government's terms such as veto power. The funds from the private sources mean that short cuts won't need to be taken during the current launch of the new XJ and launch of the facelifted Rovers later this year.
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