Long-term funding needed for JLR: West Midlands to Tatas

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Speaking to CNBC-TV18, Malcolm Harbour , MEP, West Midlands said that they are looking for Tata to show a long-term commitment to funding the sort of product development that both Jaguar and Land Rover need to move them forward. The motivation behind Ford wanting to sell the company or a majority stake in the company is that they do not have the spare cash needed to fund the investment the two brands need.  

 

Excerpts from CNBC-TV18's exclusive interview with Malcolm Harbour:

 

Q: What will the Tatas need to do to make the most of these brands? The problem has been with being able to sell these brands well across the world. Do you think the Tatas have the capabilities of doing that?

 

A: I am not sure. I just got the end of it and I do not agree with it entirely. I look for Tata to show a long-term commitment to funding the sort of product development that both Jaguar and Land Rover need to move them forward.

 

The motivation behind Ford wanting to sell the company or selling a majority stake holding in the company is because they have realized that they simply have not got the spare cash to fund the investment that the two brands need, particularly given the problems they have in United States.

 

Land Rover is showing what can be done within that market brand. I think Jaguar has not been about a lack of sales. It has been actually poor product planning. But we are now seeing the first of the new generation of Jaguar volume cars coming into the market now. We are having a fantastic reception.