Ford sells Jaguar and Land Rover for $2 billion
Ford has finally sold its euro brands, Jaguar and Land Rover to the Indian company Tata Motors, for $2 billion. According to our sources the company signed the deal on Tuesday and planns to make the public announcement on Wednesday.
The American manufacturer did not want to make any comments regarding the deal and added that its first responsibility is to communicate the transaction to the eomployees. Ford, which lost $12.6 billion last year, is planning now to invest the money in developing new cars and revive its brands. The first brand to begin the reviving process is the luxury Lincoln brand.