Land Rover Gets $458-mil Loan for Hybrid Development
Where brands in America like Hummer are going belly-up, the owners of Land Rover & Jaguar (Tata Motors) just picked up $458-million in loans for hybrid development. According to a Tata release, the loan was issued by the European Investment Bank and granted under the European Clean Transport Facility. The loan will, in part, finance the development of mild and full hybrid drivetrains as well as more energy-efficient vehicle bodies for the premium car segment.
Neither Jaguar nor Land Rover currently have a hybrid vehicle in their lineups, remaining in an ever-shrinking group of similar automakers. As we reported mid-last year, the upcoming small Jaguar sports roadster, commonly dubbed XE, could feature an extended-range hybrid powertrain, possibly featuring a small three-cylinder gasoline engine. Jaguar is also said to be working on experimental hybrid and electric versions of its new flagship XJ sedan.
Source: Motor Trend
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