AutoGuide News Blog
The AutoGuide News Blog is your source for breaking stories from the auto industry. Delivering news immediately, the AutoGuide Blog is constantly updated with the latest information, photos and video from manufacturers, auto shows, the aftermarket and professional racing.
Today, a report was released regarding the possibility of Tata motors entering a joint engine-development program with Jaguar Land Rover. Tata is currently India’s leading automaker by sales, and presently obtains engines from Jaguar and Land Rover models from the brand’s previous owner, Ford Motor Co.
Tata feels that the joint engine-development program would allow another step forward to establishing the brands’ independence from Ford(Tata bought Jaguar Land Rover from Ford in 2008). ”To optimize the synergistic strengths between JLR and Tata Motors in India, an examination is also under way on a joint engine development program which would have manufacturing facilities both in the U.K. and India,” explained Ratan Tata
Tata Motors sold 62,090 Jaguar and Land Rovers globally for the fiscal year, up 9 percent from the previous year, according to the company. Jaguar Land Rover North America sold 23,702 vehicles in the U.S in the first six months of 2011, up 13.9 percent over the first six months of 2010.
[Source: Automotive News]
India’s Mahindra has nearly completed a purchase of Korean carmaker circus freakshow Ssangyong, maker of the world’s ugliest vehicles.
“We give the takeover candidate (Mahindra and Mahindra) an exclusive right for negotiation, and won’t be involved in any takeover-related activities with a third party,” Ssangyong said in a statement. Financial terms were not announced but some analysts value the deal at roughly $420 million.
Ssangyong, which makes the Rodius minivan and Actyon crossover, was slated to be resurrected by Chinese carmaker SAIC, until the recession caused them to abandon plans for Ssangyong.