The British car maker, undergoing the turmoil of financial crisis, is getting a lifting hand from the bankers to run the show. It gets $277.7 million from the State Bank of India along with the fund aid from ABC International Bank. The company’s Indian owner, Tata Motors, is shaping the revival with a separate export financing facility of $90 million under an agreement.
Together, the company has enlisted 500 million pounds under the retrieval plans and expansion schemes. According to Tata sources, by this August, JLR faced the pre tax loss upto 62million pounds accounted for the first quarter with the unit sale too dipping by 52% compared to the previous year. In a bid to save from this crisis, JLR has proposed to amalgamate all the three units located in England before 2014.