A partner from former bidder Ripplewood Holdings, Thomas Stallkamp, has even gone so far as to question the logic of either of these Indian firms purchasing Jaguar or Land Rover. During a recent interview with Reuters, Stallkamp said "I don't understand how a company that's going to make cars for $2,000 can sell cars for $120,000," in reference to Tata and its upcoming minicar.
One of the two bidders, M&M, has now come out claiming Land Rover's technology makes sense for it. Speaking with The Standard, M&M executive director Hemant Luthra explained "the technology that Land Rover has makes sense for M&M." M&M currently sells a budget SUV that only recently it started selling in markets outside of India.
Tata boss Ratan Tata has previously stated he was interested in the brands because of the desire to reduce his company's dependence on the Indian market and to improve its global presence.