DEARBORN, Mich. — India's Tata Motors Ltd. is the top contender for Ford Motor Co.'s Jaguar and Land Rover units, the Dearborn automaker confirmed on Thursday.
"Ford is committed to focused negotiations at a more detailed level with Tata Motors concerning the potential sale of the combined Jaguar/Land Rover business," Ford of Europe Chairman Lewis Booth said in a statement on the Ford Web site. "There is still a considerable amount of work to do, and while no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned."
The Ford announcement marks the first time that the automaker has identified a potential suitor for the brands. Tata is India's leading producer of commercial vehicles and No. 2 in India for passenger cars behind Maruti Suzuki.
What this means to you: Jaguar and Land Rover may soon be in the Tata fold as the Indian automaker scrambles to put together an ambitious expansion plan. — Anita Lienert, Correspondent
"Ford is committed to focused negotiations at a more detailed level with Tata Motors concerning the potential sale of the combined Jaguar/Land Rover business," Ford of Europe Chairman Lewis Booth said in a statement on the Ford Web site. "There is still a considerable amount of work to do, and while no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned."
The Ford announcement marks the first time that the automaker has identified a potential suitor for the brands. Tata is India's leading producer of commercial vehicles and No. 2 in India for passenger cars behind Maruti Suzuki.
What this means to you: Jaguar and Land Rover may soon be in the Tata fold as the Indian automaker scrambles to put together an ambitious expansion plan. — Anita Lienert, Correspondent
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