After purchasing Jaguar and Land Rover from Ford, and then dumping hundreds of millions of dollars into the two British brands, Indian carmaker Tata is just beginning to see the light - thanks to the Chinese government. According to a report in the Business Standard, the Chinese government has just signed a deal with Tata for the purchase of 13,000 new Land Rover and Jaguar vehicles.
The deal is reportedly worth $850 million - roughly a third of what Tata paid for the two companies just two years ago.
Apparently the division of cars will be be 10,000 Land Rovers and 3,000 Jaguars, although there are not details on which specific models.
A spokesperson for Jaguar Land Rover (JLR) said that this deal, "provides us with a solid base on which to further build our presence in this key emerging market and is particularly welcomed at this challenging time for us and the automotive industry."
No kidding?
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China to Buy 13,000 Jaguar and Land Rover Vehicles on AutoGuide.com
China to Buy 13,000 Jaguar and Land Rover Vehicles
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