Tata has done it again – after shocking the world by displaying the cheapest car ever made, it has now acquired Jaguar and Land Rover for US$2.3 billion. The deal was announced yesterday.
Tata will pay the above amount on paper, but Ford will pay about $600 million into both companies' pension funds. This may happen in the middle of this year. Ford will also continue to supply powertrains and other components as well as some R&D support. This deal means that Tata now has access to the technology and manufacturing practices that Jaguar and Land Rover follow, which will translate into better cars for the customer. We can't wait to get our hands on a Jaguar!
