Singapore: Tata Motors Ltd has agreed to inject "tens of millions" of pounds into Jaguar Land Rover to prevent an immediate cash flow crisis, the Financial Times reported on Monday.
The move by Tata, which bought the luxury carmaker earlier this year for $2.3 billion from Ford Motor Co, comes on top of a "hundreds of millions" of working capital it has provided to the British firm, the paper said citing sources close to Tata.
Car makers around the globe have been hit by a collapse in demand as the economic slowdown spreads and access to credit is choked off by the financial crisis.
Chennai: Ford India has launched production of diesel engines at its new, state-of the-art engine assembly plant at Maramalai Nagar, Chennai, for use in the popular midsize Ford Fiesta and Ford Fusion product lines. The new US$26 million assembly plant officially went online in late April, and has an annual capacity of 60,000 units.
