Business IdeasTatas to tighten mgmt grip on JLR: report
Having secured the much-needed funds for Jaguar Land Rover (JLR) without the government help, its Indian parent Tatas are now tightening their management control on the carmaker, but are unhappy over the way their request for help was handled by the UK authorities, a report said today.
- Tata Motors rises on loan report - Tata Motors expects JLR funding sans UK govt guarantee - JLR gets financing facility worth 75 mn pounds - S&P downgrades Tata Motors credit ratings - JLR needs "major" cost-cuts - JLR to have light weight aliminium bodies to cut costs
"Tata feels that it has not been well treated. It is one of the biggest inward investors in the UK and yet it has been made to feel like a company that would take the money and run," a report in the Sunday Times quoted one industry source as saying.
"Tata executives are understood still to be fuming at how the government handled their request for assistance when the credit crunch and recession triggered a collapse in sales," the report said.