Saturday, July 25, 2015

RATAN TATA INDUCTED INTO AUTOMOTIVE HALL OF FAME

The man who saved Jaguar Land Rover from Ford, Ratan Tata, has been inducted into the Automotive Hall of Fame in Detroit, alongside two other industry giants - Luca de Montezemolo and Roger Penske.


The Indian industrialist and entrepreneur's leadership has led to Jaguar Land Rover doubling sales, and employment, tripling its turnover, and been responsible for generating more than ten million pounds in investment in new product development and capital expenditure, since Tata acquired the business in 2008.


L-R: Luca de Montezemolo, Ratan Tata, Roger Penske
Both Roger Penske and Sr. Montezemolo paid tribute to Mr Tata's achievements, taking on risk, and showing bold and resolute leadership.

Under Tata Group ownership Jaguar Land Rover has not only been able to fund all its own future product development, but is now also contributing dividends to its parent.

The Chairman of the Automotive Hall of Fame, Michael Martini said:
"The Automotive Hall of Fame also recognizes Mr. Tata's quest to give mobility to India by producing the country's first indigenous car, the Indica, in 1998, following it with the ground-breaking Nano in 2008."

"Tata's investments in Jaguar Land Rover saved or created over 33,000 jobs in England, while preserving the rich tradition of performance and style that are the signature of these great marques. Clearly his vision is the reality."


Pravin Kadle, head of Tata Finance has revealed a hitherto unknown fact behind Tata's acquisition of Jaguar Land Rover. 

Tata Motors' first car, the Indica, was not successful in its first year and many business people in India recommended that Ratan Tata should offload the car division, and in 1999 Mr. Tata and a small group of his key executives (including Pravin Kadle) attended a meeting with Ford Motor Company in Deaborn.

During the meeting the Tata group felt insulted by the comments from the Ford directors, topped off when Bill Ford said to Mr. Tata: "Why did you start the car business, when you know nothing about it? We would be doing you a favour in buying it." 

The Tata group promptly ended the meeting and returned to India.

In 2008 Ratan Tata invited Bill Ford to his headquarters, 'Bombay House' in Mumbai, and offered to buy Jaguar Land Rover, which had incurred heavy losses under Ford's inept management.

Bill Ford said: "You are doing us a favour by buying the business."


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