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India’s Tata Motors says pleased with Jaguar talks
MUMBAI - India’s Tata Motors said on Monday it was pleased with the negotiations to acquire Ford Motor Co’s luxury brands, Jaguar and Land Rover, and hoped to cut a deal in weeks.
Tata Motors, India’s top vehicle maker that unveiled the world’s cheapest car in January, has been in talks with Ford since it was chosen as the front-runner to buy the brands.
‘Tata Motors is pleased by the progress in the discussions with Ford to date and hopes that both parties can reach an agreement in the forthcoming weeks,’ Debasis Ray, head of corporate communications, said in a statement.
The company denied media reports that Tata may share the technology of Jaguar and Land Rover with Italy’s Fiat, with which it has a joint venture to make cars and engines in India and an alliance for trucks in Latin America and Europe.
‘Tata Motors, which is engaged in focused and detailed negotiations with Ford on the Jaguar Land Rover business, clarifies that the company has had no discussions with Fiat on deployment of technologies developed by Jaguar and Land Rover.’
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