Jaguar Land Rover UK Bailout Talks Fall Through

Bailout talks between Jaguar Land Rover and Tata Steel with the U.K. government have ended, leaving both companies to rely on private financing to overcome the impact of coronavirus on business, the Financial Times reported.

Talks for an emergency funding fell through as Jaguar Land Rover did not qualify for taxpayer support, the paper said.

Jaguar Land Rover also was unwilling to accept decarbonization requirements that would have forced the automaker to accelerate its program of vehicle electrification and phase out the diesel cars that still make up most of its fleet, the Financial Times said, citing a source with knowledge of the discussions.

More at Auto News