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Tag: land rover

March 26, 2008 – Ford sells Jaguar & Land Rover
This Day

March 26, 2008 – Ford sells Jaguar & Land Rover

On this day in 2006, Ford named Tata Motors, a part of conglomerate Tata Group, as the preferred bidder to purchase Jaguar and Land Rover from Ford Motor Company. The deal closed the following June to the tune of $2.3 billion. This was about half of what Ford purchased them in 2000. Under the terms of the deal, Ford also had to return Tata up to $600 million following the sale to make up for any shortfalls in the two brands’ pension plans. Ford offloaded the brands during a major company overhaul following a two year loss of $15 billion. Above: Ford era Land Rover Range RoverTop: 2008 Jaguar XF At the time of the purchase, Tata Group focused on overseas acquisitions of everything from coffee companies to manufacturing businesses. Tata had no intention of making any major changes...
September 8, 1963 – A master engineer passes away
Business

September 8, 1963 – A master engineer passes away

Often regarded as one of the most forward thinking automotive engineers the industry had ever known, Maurice Wilks passed away on this day in 1963. Wilks started his engineering career with Hillman in 1922, spent two years with General Motors in the mid 1920, then returned to Hillman before accepting a position as chief engineer at Rover Company in 1930. His accomplishments at Rover include the introduction of the first gas turbine automobile and he headed development of the Land Rover alongside his brother Spencer. A series of promotion between the end of WWII and 1962 would lead to Wilks being named chairman of Rover, a position he held at the time of his death. Rover gas turbine powered car developed by Wilks.By Oxyman - Own work, CC BY 2.5, https://commons.wikimedia.org/w/index.php...

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