Tatas take over Jaguar, Land Rover for $2.3 bn

“We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business,” group chairman Ratan Tata said after making the deal public.

“We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact,” he said.

As part of the transaction, Ford will continue to supply Jaguar and Land Rover for differing periods with powertrains, stampings and other vehicle components.