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Jaguar Land Rover won't get a bailout from the UK

Bailout talks between Jaguar Land Rover and Tata Steel with the UK government have ended, leaving both firms to rely on private financing to overcome the impact of coronavirus on business, the Financial Times reported on Friday. The report said that talks for an emergency funding fell through as Jaguar Land Rover (JLR) did not qualify for taxpayer support. It is the luxury car unit of India's Tata Motors and Tata Steel, both owned by Indian conglomerate Tata Group. The bailout plan, titled "Project Birch", had been authorized by Finance Minister Rishi Sunak in May to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a "last resort" basis after other options run out. The report, citing a source familiar with the matter, said that the funding scheme became infeasible for Tata as it imposed strict conditions on any lending. "Tata Steel remains in ongoing and constructive talks with the UK Government on areas of potential support," Tata Steel said in an emailed statement. The UK Treasury said it would not comment on individual companies. Tata Motors did not immediately respond to request for comment. Related Video: Earnings/Financials Government/Legal Jaguar Land Rover

Weekly Recap: Hyundai scores NFL sponsorship after GM exits

Hyundai replaced General Motors as the official automotive sponsor of the NFL with a four-season deal that was announced this week. Hyundai gets exclusive sponsorship rights for mainstream and luxury cars, though not for pickups – as it doesn't have one in its current portfolio. "There may be another automotive truck sponsor, but not one that competes with our vehicle lineup," a Hyundai spokesman said in an email. That leaves the door open for another truckmaker to enter the fray. GM used the NFL to promote its GMC division, which makes pickups and sport-utility vehicles. The Detroit automaker decided to quit the sponsorship, which it had held since 2001, a GM spokesman said. Financials were not released, but ESPN said the sponsorship will cost Hyundai $50 million a year, double what GM paid. It gives Hyundai access to NFL trademarks for use in its marketing and advertising, and Hyundai will provide promotional vehicles to the league for the Super Bowl and other events. Hyundai celebrated the agreement by lighting up its Fountain Valley, CA, headquarters this week with a football field and the NFL logo. Hyundai's sister company, Kia, is the official automotive sponsor of the NBA. "We are huge football fans at Hyundai and feel there is no better venue to reach consumers, increase consideration, and tell the Hyundai brand story," Hyundai Motor America CEO Dave Zuchowski said in a statement. Hyundai will officially kick off its sponsorship when the NFL season begins on Sept. 10 with a primetime game featuring the Pittsburgh Steelers and the Super Bowl champion New England Patriots. OTHER NEWS & NOTES Toyota Mirai rated at 67 mpge, 312-mile range The Environmental Protection Agency gave the Toyota Mirai hydrogen fuel cell electric car a 67-miles-per-gallon-equivalent rating. The figure is for city, highway, and combined driving. The EPA also said the Mirai will have a 312-mile range. The sedan will arrive in dealerships in California this fall and will cost $57,500, though incentives can drop the price significantly. The Mirai will also be offered as a $499-per-month lease. Both come with three years or $15,000 worth of free fuel. Toyota plans to expand sales to the Northeast United States later. Toyota's top female exec resigns in wake of arrest Meanwhile, in other Toyota news, the automaker's communications chief and top female executive, Julie Hamp, resigned.

Lotus Esprit S1 gets wet and wild in 'Forza Horizon 4' James Bond trailer

It only makes sense. When the official trailer for Forza Horizon 4 ( FH4) first debuted at E3, details showed the game is set in Britain. Those who were ahead of the curve might have recognized this as a foreshadowing of sorts. Celebrating the launch of FH4's XBOX One and Windows 10 demo on Sept. 12, Playground Games announced that the next version of the beloved racing simulator will launch with an available Best of Bond pack that includes many of James Bond's storied rides. As expected, the list is heavy on the Aston Martin, but there are plenty of other goodies, too. Included in the 10-car pack are the 1964 Aston Martin DB5, a 1969 Aston Martin DBS, a 1986 Aston Martin V8, a 2008 Aston Martin DBS, a 2015 Aston Martin DB10, a 1974 AMC Hornet X Hatchback, a 1977 Lotus Esprit S1, a 1981 Citroen 2CV6, a 1999 BMW Z8, and a 2010 Jaguar C-X75. If you can name every movie that all of these vehicles are from, pat yourself on the back and grab a martini. View 15 Photos Microsoft is rewarding those who are all-in on FH4. The Best of Bond pack will come with the Ultimate Edition of the game that is allowed an early play date, starting Sept. 28. For those who haven't fully committed, the Best of Bond pack will be available as an add-on for purchase when the game launches globally on Oct. 2. The action-packed trailer shows many of the vehicles transforming or busting out tricks they're known for from the films, including the Lotus emerging from the sea. Although players will not be able to drive any vehicles under water (that we know of), several of the gadgets will make it into the game and will be viewable during Forzavista mode. The '64 DB5 has many of its features, such as the bumper rams and revolving license plate, while the Lotus will have an available body kit, fins and all. The Bond pack also comes with a few features irrelevant to the cars, including two Bond outfits and six "quick chat" phrases that can be used during multiplayer. The pack adds to an already impressive catalogue of vehicles that includes more than 450 different rides. Available now to pre-order, the FH4 Ultimate Edition is priced at $99.99, the Deluxe Edition is $79.99, while the base game is $59.99. For those who love Bond but don't own a gaming system, don't forget about the recently announced DB5 Lego kit.