Ford picks Tata for Jaguar, Land Rover bid

 

 

Ford Motor Co. has picked India's Tata Motors Ltd. as the top bidder to buy Fords Jaguar and Land Rover units, the U.S. automaker said Thursday.

Ford said in a statement that it has entered into "focused negotiations at a more detailed level" with Tata, which means Tata has been picked as a preferred bidder for the storied British automakers.

"There is still a considerable amount of work to do, and while no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned," Lewis Booth, executive vice president of Ford's European units, said in a statement. (AP)