JLR, owned by India's Tata group, has been one of the victims of UK car sales drop over the last year. Jaguar Land Rover is to be handed a £330m loan by the European Investment Bank. Jaguar Land Rover has been seeking Government help since December. The loan, the repayment of which will be guaranteed by the British government, is for a research and development project on reducing emissions.
The grant offer will be made available under the Government's Grant for Business Investment scheme and is an important contribution towards the overall cost of the project. This is separate from the broader automotive support package currently being unveiled by the Government.
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