July 19: Tata Group of Industries is going to be a MNC as Tata Motors, the largest automobile company of India is eyeing to drive home the legendary Land Rover and Jaguar of Ford Motor Company.
After purchasing Corus, the second largest European company Tata Motors is planning to purchase the evergreen legendary brands Land Rover and Jaguar of US Based Ford Motor Company. Ford has blocked these brands since June11. Ratan Tata, the chairman of Tata group is personally spearheading the venture as information got from the Bombay House, headquarter of TATA.
The total estimated value of Jaguar and Land Rover is around $ 1.5 billion that is far behind the purchasing of UK based steel company Corus. Tata is planning a strategy to acquire these brands, which have been two among the most popular brands and some vehicles of old Land Rover are still running on the road, which were manufactured more than fifty years ago.
One spokes person for Tata group denied to unmask the strategy quoting, “As a policy we do not comment on speculation”. Land rover is one of the best motors on the road according to experts and motor lovers, which is designed in 1947 and Ford motor company had purchased it from BMW, another famous car maker that deals mostly the expensive and luxuries cars in worth $ 1billion in 2000.
As far as Jaguar is concerned, this sports car is founded in 1922, which becomes popular because of its aristocratic and elegantly sporty style. Ford acquired the company in 1989 from the British government after Margaret Thatcher nationalised it in 1984. Over the last couple of years, the Tata group has been actively acquiring large global brands.
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