Tata Motors has announced the appointment of Thierry Bollore as the new chief executive officer of its British luxury arm Jaguar Land Rover (JLR). Bollore will succeed Ralf Speth and will take over the position effective 10 September 2020. With extensive experience in the automotive industry, Bollore moves on from the position of CEO of Groupe Renault and previously in senior positions at global automotive supplier Faurecia. Commenting on his appointment, he said:
Jaguar Land Rover is known around the world for its peerless brand heritage, exquisite design and deep engineering integrity. It will be my privilege to lead this fantastic company through what continues to be the most testing time of our generation.
“I want to thank Ralf for a decade of outstanding vision and leadership for Jaguar Land Rover and welcome him to his new Non-Executive position in addition to his existing role on the board of Tata Sons,” Natarajan Chandrasekaran, Chairman of Tata Sons, Tata Motors, and Jaguar Land Rover PLC, said.
In recent news from Jaguar Land Rover, the manufacturer raised about $704.5 million from banks in China, which is JLR’s first debt financing in the country. The three-year revolving loan has been provided by Bank of China, ICBC, China Construction Bank, Bank of Communications and Shanghai Pudong Development Bank, according to JLR’s vice president and China chief financial officer Arthur Yu.
Its sales in China during the month of April were level with the same period last year, JLR said, adding that it even witnessed an upward sales trend in May. The company imports cars and also has a manufacturing partnership in the Chinese eastern city of Changshu with Wuhu-based Chery Automobile.
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