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Ford signed a $2.3 billion dollar deal with Tata Motors to sell Jaguar and Land Rover.
According to Automotive News, the deal is done. Today Ford signed a deal with India-based Tata Motors to sell its Jaguar and Land Rover brands for over $2.3 billion. Ford will supposedly announce the deal officially tomorrow (Wednesday), but sources close to the transaction say the receipt’s already been printed, so to speak. While details are scarce, AN does mention that Ford will pump around $598 million into the pension funds for each brand as it sends them on their way. We’re waiting to hear more details about how Ford will continue to supply engines and components for these vehicles, for how long and how much. Right now, however, mum’s the word, as the Blue Oval has only said that, “our first responsibility is to communicate with our employees.” Sorry if they heard it here first, but then again, they should be working now, not reading Autoblog. Right? Right.
[Source: Automotive News, subs. req'd]
The stylish Land Rover LRX is slated for production according to some reports. The LRX will target BMW X1 and Audi Q5 with eco-friendly engine options.
As reported by Autoblog:
We’re big fans of the Land Rover LRX concept’s styling, which looked as good in black (unveiled in Geneva) as it did in the original white (unveiled in Detroit). So we’re suitably pleased by reports that Land Rover is preparing to build the vehicle, which could get the nameplate Freelander Sport in keeping with the nomenclature already set in place by the Range Rover Sport.






