Booth added: “We will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned.”
Tata will now gain access to more in-depth financial information on the two companies, which will allow it to adjust its eventual offer to Ford.
Tata is India’s leading producer of commercial vehicles and No. 2 in India for passenger cars.
In 2006 it built 580,000 vehicles, of which 54,000 were exported. Acquiring Jaguar Land Rover is part of an ambitious expansion program aimed at making Tata a major player in the global auto industry.