“I do not understand how a company that is going to make cars for 2,000 dollars (977 pounds) can sell cars for 1,20,000 dollars,” The Times daily today quoted Thomas Stallkamp, a partner with Ripplewood, as saying.
The US-based private equity group Ripplewood was among the bidders for the Jaguar and Land Rover brands, but is believed to have fallen out of the running recently.

The report also said that Ford’s British workers unions are favouring the OneEquity bid over Tatas’ offer. The unions were scheduled to meet the shortlisted bidders later on Wednesday.

“The unions have not publicly stated a preference, but are thought to be concerned about market positioning and outsourcing if Tata wins the bid. Tata is about to market a car costing just over 1,000 pounds, which is being dubbed the people’s car, in India,” the report said.