Tata Motors plans a $2 billion boost to Jaguar, Land Rover

Mumbai: Tata Motors, which sealed a $2.3 billion deal to acquire the Ford UK brands Jaguar and Land Rover, is planning to invest a further $2 billion on the the two brands.

Media reports in the UK said the company was planning to invest up to $2 billion to spruce up the Jaguar and Land Rover operations.

Tata Motors managing director Ravi Kant, however, declined to comment on the reportssaying  ''Investments are part of business plans. Any company buying another one, invests in developing the business plans."

The UK media had reported that Tata Motors was planning to invest one billion pounds (nearly $2 billion) over the next 4-5 years on the two models.

The Tata Group had taken bridge loans of $3 billion to fund the acquisition of the two British luxury brands.

Kant said the company planned to replace the bridge loans with long-term debts and equity contribution with funds to be raised through divestment in group companies.