JAGUAR Land Rover (JLR) owner Tata Motors has confirmed completion of a £340m European Investment Bank loan to develop more efficient engines and car bodies.
The funding, backed by a raft of European and Indian banks, will drive research and development aimed at reducing harmful CO² emissions and improving vehicle efficiencies.
“Green” technology developed so far by JLR includes the “stop-start” system on the Halewood-built Freelander which cuts the engine in standing traffic to reduce CO² emissions.
And next year Halewood will start building the LRX “baby” Range Rover, which will be the lightest and most environmentally- friendly Range Rover model ever designed.
Tata Motors, which bought JLR for £1.15bn, in June, 2008, also revealed that, despite the difficult financial conditions, it had completely repaid a £1.94bn facility related to the acquisition by last October.
