Tata Motors has finally completed the deal to buy Jaguar and Land Rover from the Ford Motor Company in a $2.3 billion (£1.15bn) deal. The deal follows Ford's decision last August to explore options for the Jaguar and Land Rover businesses. Ford is concentrating its focus on its core Ford brand and 'One Ford' global transformation.

Ford will continue to supply Jaguar and Land Rover for differing periods with powertrains, stampings and other vehicle components, in addition to a variety of technologies, such as environmental and platform technologies. Ford also has committed to provide engineering support, including research and development, plus information technology, accounting and other services.

In addition, Ford Motor Credit Company will provide financing for Jaguar and Land Rover dealers and customers during a transitional period, which can vary by market, of up to 12 months.

The parties believe these arrangements will support Jaguar and Land Rover's current product plans, while providing the two manufacturers freedom to develop their own stand-alone capabilities in the future that will best serve its premium manufacturer requirements.

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