JLR gets funding of Rs 1,300 crore from GE Capital

With a commitment of £170 million from GE Capital, Jaguar Land Rover shouldn't be short of working capital in the near future...

Jaguar Land Rover (JLR), a UK-based subsidiary of India’s Tata Motors, has now signed an agreement with GE Capital, with the latter agreeing to provide a working capital facility of up to £170 million (about Rs1,300 crore), which will be available for a five-year term.

‘We are pleased that our funding plans have further progressed, and we welcome the confidence shown by GE Capital in the Jaguar Land Rover business,’ said Ken Gregor, CFO - Jaguar Land Rover. ‘Today’s deal is further evidence of our commitment to supporting important industries in the UK and Europe and finding funding solutions that are tailored to companies’ asset portfolio,’ added Rich Laxer, CEO - GE Capital.