Jaguar Land Rover no longer needs government help

Posted on August 11th, 2009 by News in Manufacturers, News

The Indian owner of Jaguar Land Rover has told the UK government it no longer needs support for the carmaker, after obtaining private funding.

Tata said it had secured some direct bank loans, as well as guarantees that would allow it access to European Investment Bank funds.

Government funding had been offered but did not materialise, after a failure to agree terms of any cash injection.

Business secretary Peter Mandelson said the development was “welcome”.


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