Tata Motors Passenger Vehicles Ltd.

Tata motors’ wholly owned subsidiary -- Jaguar Land Rover (JLR) will receive a 500 million pounds guarantee from the UK government to underwrite a planned 625 million pounds loan facility from commercial banks to develop the next generation electric vehicles and future mobility solutions.  The guarantee for the loan comes from the UK Export Finance (UKEF), the UK’s export credit agency, and will provide the guarantee under a new General Export Facility to support UK exports.

Earlier, Jaguar Land Rover had unveiled plans to produce a range of new electrified vehicles in the UK as it prepares to offer electrified options for all Jaguar and Land Rover models from 2020.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.