Tata Motors has released a statement clarifying that the group remains committed to the long-term growth and success of Jaguar Land Rover.
The company added that it will continue to face the global headwinds being experienced by the auto industry, and address issues by taking the right steps to drive operational excellence, whilst continuing to invest in innovative products and technology to stay competitive globally.
N Chandrasekaran, Chairman, Tata Motors, said, “There is no truth to the rumours that Tata Motors is looking to divest our stake in JLR or discontinue the Jaguar brand. We have great belief in the potential of JLR’s distinctive premium products and brands as well as in JLR’s design and engineering capabilities. We are confident that these inherent strengths, coupled with the focused efforts by the management to drive performance in the medium term by improving its operational leverage will help JLR deliver consistent, competitive and cash accretive growth in the coming years.”