How much will Ford provide as pension funds to the employees of Jaguar and Land

Car giant Ford is to sell its luxury UK-based car marques Jaguar and Land Rover to Indian company Tata. Tata, India’s biggest vehicle maker, is likely to pay about $2bn in the deal, although analysts will be keen to see the exact price and terms. Our business editor adds that, to reassure the workforce, Ford will inject $600m into Jaguar and Land Rover pension funds. In January, Tata launched the world’s cheapest car, the Nano, priced at $2,500. By contrast, the starting price for Jaguar’s latest sports car, the XF is more than $64,000. Ford has never given any details about Jaguar’s financial performance. But it is thought that Ford has invested about $10bn in Jaguar since buying it in 1989, for $2.5bn. Despite that investment, analysts say that Jaguar, which has plants at Castle Bromwich, West Midlands and Halewood, Merseyside, has never made a profit for Ford. However, Land Rover, which is based in Solihull, West Midlands, has been profitable under Ford’s ownership.