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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

Jaguar sets a lap record at a near-forgotten French race track

If asked to name any race track in France, most racing and car enthusiasts would probably answer the Circuit de la Sarthe, known for the 24 Hours of Le Mans. Then there's the famous Magny-Cours or Circuit Paul Ricard, but not everyone remembers the Circuit de Charade near Clermont-Ferrand. This challenging track has been called a "twistier and faster" version of the Nurburgring, and in its original five-mile form, it barely had any straights. Formula 1 races were held there in the late 1960s and early 1970s, but safety concerns saw the French Grand Prix moved to Paul Ricard for most of the 1970s and 1980s, alternating with Dijon-Prenois. Later on, the track was essentially halved during modernization work, and it's now largely used for track days. The full length circuit was last used in 1988. This history lesson about a seemingly forgotten French race track is due to one good reason: Jaguar has returned to the venue to set a lap time with a new, all-wheel drive XE. The flying lap of the full five-mile track was the first one in 30 years, and the 4-minute, 9-second lap time set by Belgian racing driver Vincent Radermecker now stands as a record. Due to changes and the fact that the track originally utilized parts of public roads, the lap now included two gateways and a roundabout. Unshockingly, those weren't around in its racing days. The comparisons with the Nurburgring are apt, as Radermecker's comment confirms. "I set the production (sedan) record at the Nurburgring in the XE SV Project 8 last year and this lap was every bit as demanding. The longest straight is barely 600 metres, so I can see why drivers used to call this the French Nurburgring." The Jaguar used for the record lap is an XE 300 Sport, which is powered by Jaguar's 300-horsepower 2.0-liter four-cylinder turbo engine. It hits 60 mph in 5.4 seconds, and the average speed on the Charade lap was 72 mph. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Jaguar XE record lap View 9 Photos Image Credit: Jaguar Jaguar Automotive History jaguar xe

Lister reveals first continuation Knobbly roadster at Autosport

It's been over a year since we reported on a plan to revive Lister Cars, and now the storied British racing constructor has revealed the first production continuation example of its legendary Knobbly roadster. Built to the same specifications as the original from 1958, using the same drawings and equipment, the reborn Knobbly features aluminum bodywork and a race-prepped 3.8-liter straight six out of a Jaguar D-Type and producing 330 horsepower. Revealed at the Autosport International race car show in Birmingham, the new Knobbly arrives on Lister's 60th anniversary and less than a month after the passing of its founder, Brian Lister. Only ten examples like this one will be built, all of which have already been spoken for, prompting Lister to consider an additional three examples. Each is eligible under FIA regulations to compete in vintage racing events, with performance specs quoting a 4.3-second 0-60 time and a top speed of 181 miles per hour. LISTER CARS' REBORN 'KNOBBLY' MAKES PUBLIC DEBUT AT AUTOSPORT INTERNATIONAL - Lister Cars' reborn 'Knobbly' racer has made its public debut at Autosport International - Built to the very same specification as the original 1958 'Knobbly' it uses the late Brian Lister's original drawings and manufacturing jigs - Lister has received an overwhelming response to its limited run of ten continuations and order books are full - Lister Cars is now considering creating three individual final editions each celebrating the racing pedigree of the 'Knobbly' in a unique and memorable way Lister Cars' reborn 'Knobbly' racer has made its public debut at Autosport International at the NEC Birmingham. Celebrating Lister's 60th anniversary, the reborn 'Knobbly' is built to the very same specification as the original 1958 'Knobbly', using the late Brian Lister's original drawings and manufacturing jigs. It is powered by a race-prepared Jaguar D-Type 3.8-litre straight-six, producing 330bhp. All 'Knobbly' models are built at Lister Cars' Cambridge factory to meet relevant FIA racing regulations, with owners able to compete in a series of Lister historic race meetings planned during 2015. Despite following an original design laid out more than 55 years ago, the reborn 'Knobbly' has performance to match modern sports cars; it can accelerate from 0-60mph in 4.3 seconds and hit a top speed of 181mph. Lister Cars has already received an overwhelming response to its limited run and the 10 cars are now sold out.