DEARBORN, Michigan: Struggling Ford Motor Company is expected to announce today (Wednesday) that it has inked the deal to sell its luxury Jaguar and Land Rover marques to India's Tata Motors.
The $2 billion (€1.28bn; £1bn) agreement includes an undertaking by Tata to continue buying engines from Ford for the brands, while the latter will carry on making staff pension contributions.
Meantime, the chairman of Italy's Fiat, Sergio Marchionne says he would be interested in working with Tata on the marques when the sale is finalized.
The two companies already collaborate in India in the production of cars, engines and transmissions, and conglomerate chairman, Ratan Tata, has a seat on the Fiat board.
The $2 billion (€1.28bn; £1bn) agreement includes an undertaking by Tata to continue buying engines from Ford for the brands, while the latter will carry on making staff pension contributions.
Meantime, the chairman of Italy's Fiat, Sergio Marchionne says he would be interested in working with Tata on the marques when the sale is finalized.
The two companies already collaborate in India in the production of cars, engines and transmissions, and conglomerate chairman, Ratan Tata, has a seat on the Fiat board.
Data sourced from Financial Times Online; additional content by WARC staff
