Tata Motors secure funds for JLR bailout

23 Dec 2008

Tata Motors has secured “last-minute funding” for Jaguar Land Rover (JLR) as the bankers were convinced the UK government would prevent a collapse of the luxury car maker, while the government continues to consider the case for a taxpayer- funded bail out. Tatas were facing a cashflow crisis and needed help to pay suppliers.

 

Jaguar Land Rover has been reportedly seeking financial assistance from the government to the tune of POUND 1 billion in the wake of sharp fall in sales and credit crisis. Further, the car maker’s chief David Smith has cautioned of thousands of job losses unless it receives emergency aid.crackcrack
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