Ford Taps India's Tata as Top Bidder for Jaguar, Land Rover
January 03, 2008
Ford confirmed what has been widely speculated in recent weeks -- that it has selected India's Tata Motors Ltd. as the top bidder for its Jaguar and Land Rover units.
A statement by Ford said it had entered into "focused negotiations at a more detailed level" with Tata.
"There is still a considerable amount of work to do, and while no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned," Lewis Booth, executive vice president of Ford's European units, said in a statement.
"We can confirm that we have had positive discussions so far with Ford concerning the possible purchase of Jaguar Land Rover, and we are now entering a period of more focused and detailed negotiations with Ford," Debasis Ray, spokesman for Mumbai-based Tata Motors said in an e-mailed statement published by Dow Jones.
"We are pleased by the progress in the discussions to date and very positive about the prospects of this business going forward," Ray said. "There is nothing further we want to add at this time."
UK union Unite, which represents Ford UK workers, said on Thursday that it wants more discussions with Ford and Tata about job security for its members, Reuters wire service reported.
"There are also crucial issues around wages, terms and conditions and pensions to address before any final decision is considered," said Unite's joint general secretary Tony Woodley in the statement published by Reuters.
Posted by Michelle Krebs at 4:23 AM under Ford , News | Comments (1) | digg this | Seed Newsvine
Seems pretty obvious that this is the car of the future,
or at least one of them. It addresses the gasoline
problem we are facing with $4.00 gas (spring 08).
I can see this as a perfect balancing method of the
imported oil problems.
No wasting of any resources, the recycle factor is just
beyond belief.
At any rate, what is the holdup? No gumption? I intend
to have one of these cars myself. Sick of paying out
$ 75.00 to fill the tank in my pickup three to four
times per month & I am not even working anymore.
What is it costing the person that is driving to work
every day? No maintenance costs to speak of, no fuel
costs per 100 miles. Hob obvious does it have to be.
Henry Ford would have already cornered this market.
The first one making these available will really be
a true leader of industry. Some will still want to drive
the gas guzzlers, others will be glad to have something
small to get them u & down the road.
Posted by: Harry Hudlow | April 30, 2008 at 3:18 PM