JLR acquisition a ‘terrific decision’: Ratan Tata
Ratan Tata, the Chief of Tata Group stated that the takeover of Jaguar and Land Rover is a very good decision. Adding, it is expected to re-establish the wonder for the opulent brands.
Further Tata said that the company is proud to have these products. And it was an excellent decision that the company did to propose for these two brands and possess them.
Due to the hold back in the economic and plunge in the sales of Jaguar and Land Rover, the company gave a consolidated net loss of Rs 2,505.25 crore for the year 2008-09.
And both the brands have a remarkable R&D in it.
Currently the company is going through a slump that has condemned Jaguar and Land Rover in observation and that view is not correct.
He added that the terrific and R&D behind them are for the company to deal with to put them into products and bring the products into production.
In June 2008, from the US car producer Ford, the Tata Motors obtained Jaguar and Land Rover for about USD 2.3 billion.