Chandrasekaran said China sales have 'collapsed' with a 50 per cent drop last year, though 2019 is showing some improvement
Tata Sons, the Indian conglomerate that owns Jaguar Land Rover, said it is open to finding partners for the automaker but isn’t planning on selling the embattled unit.
“We’re not going to sell,” said Natarajan Chandrasekaran, chairman of Tata Sons, the holding company in an expansive business empire that includes Tata Motors Ltd. “Auto is a core business for us. From revenue terms, auto is our largest company.”
Tata Motors bought the maker of the Jaguar XE sedan and Land Rover Discovery sport utility vehicle from Ford Motor in 2008. After turning it into a cash cow with booming sales in countries like Russia and China, JLR waned to such an extent that it’s had to launch a 2.5 billion-pound
First Published: Oct 16 2019 | 09:34 AM IST