Ford to announce sale of Jaguar, Land Rover to Tata Motors on Wednesday

Tue Mar 25, 10:50 PM
The Associated Press
DETROIT - Ford Motor Co. is expected to announce the sale of British automakers Jaguar and Land Rover to India's Tata Motors Ltd. on Wednesday.
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(The Canadian Press)

By The Associated Press

DETROIT - Ford Motor Co. is expected to announce the sale of British automakers Jaguar and Land Rover to India's Tata Motors Ltd. on Wednesday.

Two people briefed on the negotiations say the sale price is around US$2 billion. The people didn't want to be identified because the sale hasn't been formally announced.

Dearborn, Mich.-based Ford says it will use money from the sale to boost quality and product development.

A British union says Tata has agreed to keep the British work force around the current 15,300.