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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 Land Rover gives Lyft $25M and a fleet of cars

Lyft recently raised $600 million in a massive funding round, and now we know that $25 million of that came from Jaguar Land Rover, via its mobility services subsidiary InMotion. The car maker's investment in Lyft goes beyond just funds, however; it's providing Lyft drivers with a fleet of Jaguar and Land Rover vehicles as part of the tie-up, and it's also going to work with the ride-hailing tech company on autonomous vehicle testing. This is yet another high-profile partner for Lyft after a spate of recent new collaborators, including Waymo and, just last week, Nutonomy. Now, Jaguar Land Rover is also joining the company's Open Platform for autonomous cars: The collaboration with InMotion will see the Jaguar Land Rover-owned company "develop and test its mobility services, including autonomous vehicles" using Lyft's platform. Lyft's ability to rapidly bring on a lot of partners in the car maker space, specifically around autonomy, may have a lot to do with rival Uber's ongoing problems, which now also include mounting calls for CEO Travis Kalanick to step back, at least temporarily, from his leadership role. Lyft has also been pretty clear about seeking to partner on autonomy, rather than pursue its own tech, which is likewise different from Uber's current approach. Uber, too, has brought automakers to the table around self-driving services and making use of its ride hailing platform for mobility service offerings. Both Uber and Lyft seem interested in being the layer that connects riders and these future services, and for automakers, it means leaving a complex and challenging part of the picture to partners with experience and expertise, rather than having to spin up that part of the tech business themselves. The fleet provision in the deal is also interesting, and suggests the partnership between the two could involve more strategic cooperative service offerings ahead of the advent of commercial self-driving tech. Lyft gaining more ground among automakers beyond longtime partner GM also explains why it was reported that the ride hailing company turned down overtures regarding a potential acquisition by the Detroit-based automaker.Written by Darrell Etherington for TechCrunch.Related Video:

Jaguar working on 700-hp, 200-mph hybrid F-Type?

After first driving the 2014 Jaguar F-Type in Spain this spring, we came away mighty impressed. Of course, if you had to pin us down for a top three wish list of what improvements we'd like to see, we'd probably hit you with something like: 1) Less weight. 2) Less weight and 3) Less weight. Oh, and if we're feeling presumptuous, maybe some additional transmission choices.
Despite leveraging aluminum for the body and chassis, this Jaguar is still a bit of a fat cat compared to its rival models from Porsche. We never felt like it was lacking for power in any of its three supercharged trims, least of them the 495-horsepower V8 S, which is a genuine madman. We knew the variants would come, though - a quick look at the rest of Jag's lineup provides all the evidence you need of that. And so we're not surprised to see word of a hyper-powered F-Type on the horizon, an R-S version. What is surprising, however, is a new report that put its motivation at over 700 horsepower and its top speed at 200+ mph. Us? We're just hoping the latter figure comes at least partially as a result of a hardcore diet.
This F-Type R-S news comes according to the rumormongers at AutoExpress, who expect the high-power Brit to come in coupe form, at least initially. We still haven't seen the debut of the fixed-head F, but plenty of spy shots suggest its arrival is imminent. Wildly, AE posits that Jag won't look for more displacement to gain power, it will instead radically downsize by using a 1.6-liter turbo- and supercharged four-cylinder and an array of electric motors. If that sounds familiar, that's because AE suggests the high-tech powertrain will be scavenged from the defunct C-X75 supercar program (interestingly, earlier reports suggested this combination would only deliver about 500 horsepower).