India's Tata Motors will be named Friday, Dec. 21, as the winning bidder in the auction for Jaguar and Land Rover, according to a report in Britain's Birmingham Post newspaper.
Tata will pay £1 billion, or about $2 billion, for the two Ford Motor Co. luxury brands, said the newspaper, which is based near Jaguar and Land Rover's home in the English midlands.
Ford plans no announcements regarding the sale of the two British luxury brands, said Ford spokesman Mark Truby. He said the U.S. automaker is still on track to announce the sale of Jaguar and Land Rover early next year.
