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1,631 views Aug 24, 2007

Tata confirms interest in Jaguar and Land Rover

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The boss of Indian carmaker Tata Group, Ratan Tata, has confirmed his company is interested in acquiring the Jaguar and Land Rover labels from Ford. "We certainly have some interest in it," he said during a television interview with CNBC TV18 but refused to give a further comment.

Earlier this week, Ford announced that it won’t reveal the final bidder for its Premier Auto Group labels until the end of the year at the earliest or possibly even early next year. Bidding alongside Tata is US buyout firms TPG and Ripplewood as well as several other private equity groups, Reuters reports.

During the interview, the Tata Chairman reaffirmed the carmaker’s plans to launch the world’s cheapest car in the first half of 2009. The new ultra-low cost car is expected to be priced under $2,500 and will meet all safety, emission and crash testing standards, according to Tata.