Tata Motors is planning to cut costs for its Jaguar-Land Rover section amidst the ongoing economic recession. Moreover, the company is also looking to decrease the development time of Jaguar-Land Rover. Chairman of Tata Motors Ltd., Ratan Tata, expressed the news in the company’s annual report for the last fiscal year.
Tata Motors acquired the Jaguar-Land Rover from Ford Motor Co. by spending $2.3 billion last year. Initially Tata’s objective was to get into overseas markets and have access to new technology. However, the company could not yet make any significant profit out of Jaguar-Land Rover. The company is now planning to make the best out of this brand, and planning for reduction in costs is part of that plan. Now, let us see if Tata can bring out success through Jaguar-Land Rover.
Related article: