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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

550-hp Jaguar F-Pace SVR revealed ahead of New York Auto Show

"I love this car." So said Jaguar designer Ian Callum, quite genuinely, as the Jaguar F-Pace SVR drove onto the stage at the company's new headquarters in Mahwah, N.J. Despite accepting and even embracing Jaguar's decision to produce SUVs, it's quite obvious (because he says so repeatedly) that Callum is still a guy with a lust for high-powered sports cars. The F-Pace SVR melds these two elements to create something he gleefully describes as "ridiculous." Boasting Jaguar Land Rover's now-familiar supercharged 5.0-liter V8, the SVR produces 550 horsepower and 502 pound-feet of torque. Jag estimates it'll hit 60 mph in 4.1 seconds and a top speed of 176 mph, which will make it one of the quickest and fastest SUVs on the road when it arrives in dealerships this summer. View 15 Photos It's not just the big engine, however. Upgraded mechanical improvements and enhancements include stiffer springs, wider and lighter forged alloy wheels (21- or 22 inches), bigger brakes (15.5-inch front, 15.6-inch rear), an electronic active rear differential, a variable active exhaust that's 14.5 pounds lighter than the standard one, and specially tuned software for the adaptive suspension, electric steering, eight-speed automatic, all-wheel drive and Dynamic Driving Mode. Callum's team also massaged the aerodynamics with larger air intakes, rear bumper side strakes, and fender vents that lower pressure in the wheel arches to reduce lift and increase cooling. A unique hood features vents designed to, well, vent hot air from the engine compartment. There are also wheel arch extensions and lower body moldings to create a more muscular appearance, while the rear sees fat quad tailpipes that one would assume should bark and burp like any good Jaguar SVR. Inside, there are thinner, light-weight sport seats done up in snazzy quilted leather. The rear seat also gets sportier seats with a similar fixed headrest design as those up front. The pistol-like sport gear selector shifter, as used in the Jaguar F-Type, replaces the standard rotary shifter design. It still takes up way too much room on the center console. Pricing starts at $80,985. One would assume Mr. Callum will gets his for less than that. Related Video:

Jaguar XE teased in new video, will debut September 8

Outside of a major auto show, this might be one of the best times of the year for new car debuts, and we couldn't be more excited. Just this week, the low-slung face of the next-generation Mazda MX-5 Miata showed itself to the world, and Land Rover debuted its new Discovery Sport. Plus, there's a double-whammy of launches on the imminent horizon with the unveilings of the Jaguar XE on September 8 and the Mercedes-AMG GT on September 9.
Jag is teasing the launch of its latest midsize luxury sedan with a few glimpses on video. It's strangely secretive, given the fact that Jaguar showed the XE's face completely un-camouflaged a few weeks ago. Regardless, it's quite a looker up front with a sleeker take on the shape of the larger XF.
Because of the way Jaguar is slowly leaking details about the XE, there are a few other things we already know about this new cat, too. It rides on a monocoque chassis made from over 75 percent aluminum, and the automaker is promising 75 miles per gallon fuel economy on the more lenient European cycle for at least one engine in the lineup.