Motoryzacja

Ford Motor Co. has picked India's Tata Motors Ltd. as the top bidder to buy its Jaguar and Land Rover units, the Detroit automaker said Thursday.

Ford Motor Co. is selling its Jaguar and Land Rover brands to India's Tata Motors Ltd. in a deal that will net the U.S. automaker $1.7 billion — roughly a third of the price it paid for the two luxury brands.

Two people briefed on the negotiations between Ford Motor Co. and India's Tata Motors Ltd. say the automakers could announce an agreement for Tata to buy Jaguar and Land Rover as soon as next week.

GENEVA — Indian automaker Tata Motors and a top Ford Motor Co. executive say discussions on selling Jaguar and Land Rover to Tata are still on.

Welcome to the big time, Tata Motors. The Indian conglomerate the Tata Group built its first passenger car just 10 years ago, but the company introduced itself to a global audience Wednesday when it agreed to buy Jaguar and Land Rover from Ford Motor Co.