Tata Motors-owned Jaguar Land Rover (JLR) will be receiving a working-capital facility worth 170 million pounds from GE Capital for a five-year term. GE Capital said in a statement this week that the deal would help reduce the time gap between production and distribution of cars. It added that the agreement with JLR was further evidence of its commitment to supporting important industries in Britain and Europe and finding funding solutions that were tailored to companies' asset portfolios. The innovative capital facility will finance JLR finished vehicle stocks between points of production and sale to dealers.

The company had last month secured a 175 million pound loan from the State Bank of India (SBI). Now, with the working capital loan from GE Capital, it can hope for a smoother emergence from the global downturn, which had led to a drastic fall in its sales. In addition to securing financial help, JLR is also working on developing new models and variants to drive its sales and offset the negative effects of the downturn.

Courtesy: www.driveinside.com