Tata Motors, the owner of Jaguar Land Rover, is to pump ‘tens of millions of pounds’ into the struggling carmaker, it has been reported. The Indian firm had asked for help from the British Government to bail out the brands.
A cash injection would give UK ministers more time to decide whether to use public money to help Tata Motors. Business Secretary Lord Mandelson has said that a Government bail-out would be the last resort.
Tata has not denied the report but would not reveal how much money would be put into Jaguar Land Rover.
‘It is our company and we are running a business,’ said Debasis Ray, head of corporate communications for Tata. ‘Discussions with the government, however, are confidential and cannot be revealed. We have to run the company and are doing so to the best of our abilities.’
Despite backing from unions for a bail-out Lord Mandelson has said Tata needs to ‘look at their own resources’ to finance the luxury marques.
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