More than a year after India's third-largest car maker, Tata Motors took control of two of UK's most revered luxury marques - Jaguar and Land Rover, the company has finally chalked out plans of launching them in India.

Also Read   News Now Paper Specials - Sensex makes remarkable recovery, regains 17K - S C Kalia takes over as Union Bank ED - PNB may acquire majority stake in Kazakh bank - Maoist hindering land acquisition for Tata steel project: Raman - Koda says he will report to ED only after Jharkhand polls More     Also Read   News Now Paper Specials - Defence offsets rise to Rs 8,000 crore - Govt may allow private sector investment in education - India Inc takes swap route to beat FCCB redemption blues - GVK eyes controlling stake in B'lore airport - Capex spending slows in Q2 More   Also Read   News Now Paper Specials   - Q3 FY09 Results: Earnings Season - Saving Satyam: Govt gets into action - India-Pakistan Tensions: Fallout of Mumbai Terror Attack - Your Money: Where to invest - Market Crash: Global worries weigh - Time Out: Books, fashion, food, travel, sports, health...  More

Jaguar Land Rover today reached an agreement with Tata Motors to begin selling its range of premium performance saloon cars, including Jaguar's XF and XKR and Land Rover's sports utility vehicles Discovery and Range Rover in the Indian market later this year.

Tata Motors will remain as the exclusive importer for the two brands for the Indian market. The newly-formed Premier Car Division, which will be headed by Rohit Suri, will operate under the Passenger Car Business Unit of Tata Motors will assume responsibility for the cars.

David Smith, chief executive officer, Jaguar Land Rover, said in a statement: "We are delighted to be formally entering into the Indian market, an economy which is still growing appreciably, and able to offer our premium products to a whole new group of customers. It is an important strategic move for Jaguar Land Rover and will enable us to realise our competitive potential in this significant market."

Its first showroom will open at Ceejay House in Worli, Mumbai by June this year. This facility will offer a range of both Jaguar and Land Rover vehicles. The company will further develop the dealer network by 2009 and 2010.

Ravi Kant, managing director, Tata Motors, said: "This is a natural move for both businesses and will allow Jaguar and Land Rover to establish a strong and deserved presence in India. We are very pleased to develop our relationship with Jaguar Land Rover in this way and to provide the opportunity for Indian customers to access their premium products for the first time."

In March last year, Tata Motors bought JLR at a knock-down price of $2.3 billion from Ford Motor Company, which was less-than-half the price paid by Ford to acquire the two brands.

Other Stories      - Sensex makes remarkable recovery, regains 17K - S C Kalia takes over as Union Bank ED - PNB may acquire majority stake in Kazakh bank - Maoist hindering land acquisition for Tata steel project: Raman - Koda says he will report to ED only after Jharkhand polls More

Tags : Jaguar | Land Rover | Tata motors | Ratan Tata | M&A   Read Business news in  Advertisements   Get financial advisory and solutions for your projects   Holidays starting at a delightful EMI of Rs 3481   Switch on and say hello to Monday morning !   Your dream home can now be a reality.   Visit Fortis for a preventive health check-up & get a 20% discount.   Follow the ups and downs of your investments. Try our new Portfolio Tracker   Kolkata Dock \ Freight contract for the British Gurkhas Nepal   Find how Midsize Businesses use ERP to gain competitive advantage   Trading in Forex is now as easy as 1-2-3   Discover an economical and cost effective way to market your products and services   Giftwithlove.com: Same day delivery of Flowers and Cakes to India   Download the E-book on the Future of Business Intelligence   Learn Best Practices for improving customer satisfaction   Know your customers better... download the free e-book on CRM