Tata Motors Assures UK PM Theresa May Of Jaguar Land Rover’s Commitment


Team Udayavani, Dec 24, 2018, 12:12 PM IST

Jaguar Land Rover owner Tata Motors has reportedly assured Prime Minister Theresa May of the company’s commitment to Britain’s automotive industry despite the ongoing turmoil of Brexit.

According to ‘The Sunday Times’, Tata Sons chairman Natarajan Chandrasekaran is understood to have written to the British premier to stress that the Tata Group plans to keep investing in JLR and has no intention of selling the firm.

The UK newspaper quoted sources as saying that the letter was designed to reassure ministers in Britain about its long-term commitment to the UK as it seeks government support for electric and driverless technology, and for building a battery factory in the Midlands region of England.

The report comes amid reports of JLR being forced to make job cuts, shedding more than 1,000 agency staff and putting 2,000 workers at its Castle Bromwich plant in the West Midlands on a three-day week.

JLR CEO Ralf Speth has made regular interventions to warn against a “hard Brexit”, or crashing out of the European Union (EU) without a good deal in place, which would adversely hit the car maker’s supply chains and sales.

The Tata Group had acquired the iconic British luxury car brand from Ford in 2008 for USD 2.3 billion, reviving its sagging fortunes to a profitable company employing 40,000 staff. However, falling diesel sales, waning consumer confidence, a collapse in the Chinese market and Brexit contingency planning have wreaked havoc in recent months.

The Midlands-based company racked up half-year losses of 354 million pounds between March and September, reversing profits of 953 million pounds for the same period a year earlier.

The Tata Group declined to comment on the letter quoted in UK media. 

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

BJP and TRS: From allies to arch-enemies

BJP empowering poor, opposition parties their own families: Nadda at BJP meet

Dhanush unveils new film ‘Captain Miller’, Arun Matheswaran to direct

Taxpayers face issues accessing e-filing portal; Infy taking measures, says IT dept

Kanhaiya Lal murder accused attacked at Jaipur court

Ship sinks in storm off Hong Kong, dozens of crew in danger

Police claim of Zubair’s bail being denied ‘scandalous’: Defence counsel


Related Articles More

Taxpayers face issues accessing e-filing portal; Infy taking measures, says IT dept

Reliance Industries stock tumbles over 7 pc; ONGC tanks more than 13 pc

RBI ask banks to test note sorting machines on quarterly basis

India’s manufacturing sector activity eases to 9-month low in Jun amid price pressure

Bajaj Auto sales at 3,47,004 units in June

MUST WATCH

India’s first unmanned combat aircraft flight successful

How to earn God’s grace?

NEW BULLETIN 01-07-2022

Heavy Rain Mallar Urdu school Damage

Heavy rain at kaup area


Latest Additions

After reconvening, Delhi court rejects Zubair’s bail plea and sends him to 14-day judicial custody

BJP and TRS: From allies to arch-enemies

Senior citizen dies in elephant attack in Sakleshpur

BJP empowering poor, opposition parties their own families: Nadda at BJP meet

Dhanush unveils new film ‘Captain Miller’, Arun Matheswaran to direct

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.