THE owner of Jaguar Land Rover (JLR) has hit out at claims the company needs a bail-out.
Ratan Tata, chairman of JLR owner Tata Motors, says the company instead wants the Government to ensure banks start working normally.
Mr Tata this week warned that, unless the Government provided £500m in loan guarantees, then JLR, which employs 2,000 people at Halewood, would have to consider making cutbacks.
Yesterday, Tata Motors issued a statement saying: “Mr Tata made clear that Jaguar Land Rover was seeking a bankable financial package with a reasonable tenure (duration) at a reasonable interest rate. These funds were necessary to sustain the Jaguar Land Rover operations in this unprecedented difficult period, caused by the global financial crisis.”
Yesterday, the Government confirmed talks were still ongoing to secure the future of the company.
