Jaguar And Land Rover Sold To TATA Motors

So much for auto body parts, Ford Motor Company's two major brands, Jaguar and Land Rover has been sold to India-based automaker, TATA motors. Here's more info...

Reuters reported that India's Tata Motors Ltd said on Wednesday it has agreed to buy luxury brands Jaguar and Land Rover from Ford Motor Co for about $2.3 billion.

Tata Motors said in a statement that Ford would contribute up to about $600 million to Jaguar/Land Rover pension plans.

Tata Motors, India's top bus and truck maker, has been in talks with Ford since it was chosen as the front-runner to buy Jaguar and Land Rover a few days into 2008.

Source: [url=http://www.theautochannel.com/news/2008/03/26/081959.html]The Auto Channel