26

Jun

Tata Eying Jaguar/Land Rover Cuts

Posted by admin  Published in Jaguar, Land Rover, Rover

Jaguar lost Tata $463 million during its first ten months as part of the Indian firm, reports Automotive News [sub]. That loss stings twice as bad considering it makes up the bulk of Tata Motors’ $520 million consolidated loss in the fiscal year ending March 31. “There has already been 2,000 job losses. We may be looking at more job losses, more plant shutdowns,” says Tata VP Ravi Khant. Will that kill the crazy Extended-Range EV plans for the forthcoming XE? Tata recently refinanced $3b in debt, according to Automotive News [sub], but with a hybrid LRX reportedly approved as well, Tata’s staring at some hefty development costs. Best of luck to ‘em.

Automotive News [sub] »

Source: www.thetruthaboutcars.com