Ford Motor has no plans to keep a stake in its Jaguar and Land Rover luxury brands, an industry source told Automotive News Europe.
Ford earlier this month picked Tata Motors as the front-runner to the purchase of the two brands. It had been thought that Ford would wish to keep a stake in Jaguar-Land Rover to protect its supply contracts for components such as engines.
“There is no need for it,” the source said. “Ford really wants to concentrate on its North American operations, that is the whole reason why it is selling Jaguar and Land Rover.”
Retaining a stake, however small, would only divert management time from the North American turnaround plan, the source said.