AutoCar report that British business secretary Lord Mandelson confirmed yesterday that the British government is in talks with Jaguar and Land Rover to provide financial assistance to the tune of 1 billion pounds.
An interesting twist is that ultimate financial responsibility rests with JLR's (Jaguar Land Rover) new owners, Tata of India. JLR CEO David Smith remarked to AutoCar that he believes that governments should support the automotive industry: "A deal is needed. Dealers and suppliers are finding it very difficult."
At the center of the request for help are Jaguar Land Rover's R&D facilities located in the U.K. Those who run the facilities have pledged to push forward with research in clean and sustainable technologies to power and produce future automobiles, but they claim to need monetary assistance in order to do so.
Final decision for governmental assistance rests with Prime Minister Gordon Brown who, just like George Bush, hasn't yet made up his mind.
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