Jaguar Land Rover Automotive Raises 5 Billion CNY from Chinese Banks
Posted on 06/07/2020
India-based Tata Motors owns Jaguar Land Rover Automotive PLC. Jaguar Land Rover entered into a secured 5 billion CNY (US$ 704.5 million) loan facility with a group of Chinese banks. This is a 3-year revolving loan. The banks involved include Bank of China, Industrial and Commercial Bank of China (ICBC), Bank of Communications, Shanghai Pudong Development Bank, and China Construction Bank.
Jaguar Land Rover has a manufacturing partnership with Wuhu-based Chery Automobile Co., Ltd.
Jaguar Land Rover Automotive is the holding company of Jaguar Land Rover Limited, a British multinational automotive company with its headquarters in Whitley, Coventry, United Kingdom. On January 18, 2008, Tata Motors formed Jaguar Land Rover Limited as a British-registered, wholly owned subsidiary. The company was to be used as a holding company for the acquisition from Ford of the two businesses, Jaguar Cars Limited and Land Rover. That acquisition was completed on June 2, 2008.
Tata Motors is part of the Tata Group.