Tata Group Confirms Interest In Jaguar, Land Rover

Interest in Ford Motor Co. units part of plan to expand Tata Motors' global reach and reduce dependence on Indian market.

NEW DELHI (AP) — The chairman of India's Tata Group has confirmed his company's interest in acquiring the Jaguar and Land Rover units of Ford Motor Co.
''We certainly have an interest in that,'' Chairman Ratan Tata told the CNN-IBN television channel in an interview, excerpts of which were telecast Friday.
The company had previously refused comment on the speculation in the Indian media about a possible Tata bid for the Ford assets.
Tata said the interest in Jaguar and Land Rover is driven by a desire to expand Tata Motors' global reach and reduce its dependance on the Indian market, that currently accounts for more than 90 percent of its sales.
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