JLR Confirms It’s in Talks for £1bn Loan
Posted on November 24th 2008Welcome back!
Jaguar Land Lover, UK-based car manufacturer has approved it’s in secrete talks with the UK government for the £1 bn (Rs. 7440 crore) loan to aid investments in a carbon reduction technologies and stimulate demand.
According to JLR statement :
JLR supports, both, the UK’s Society of Motor Manufacturers and Traders (SMMT) and the European Automobile Manufacturers’ Association (ACEA) position that government intervention is required to improve liquidity in the supply chain and support continued investment in carbon reduction technology as well as stimulating consumer demand. The French, German, US, Australian and Chinese are all considering industry support packages.
The auto industry is facing exceptional trading situations as the direct consequences of banking crisis and instability in the financial markets. They won’t comment on secret discussions with the government, statement said.
By editor in Auto India News, Jaguar Land Rover