London: UK-based car maker Jaguar Land Rover is in secret talks with the UK government over a £1 billion (Rs7,440 crore today) loan, just nine months after the Indian conglomerate Tata Group bought the luxury car maker, the ‘Sunday Times’ newspaper reported.

Desperate measures: JLR chief executive David Smith, according to a media report, has made a direct plea to the government for cash.

The ‘Sunday Times’ further added that “David Smith, the chief executive of JLR, has made a direct plea to the government for cash. He believes that with help being given on the Continent and in America to car makers Britain has a good case for financial aid."

One of Tata’s listed enterprises Tata Motors Ltd paid $2.3 billion (Rs11,500 crore as on Friday) for Jaguar and Land Rover earlier this year and financed the acquisition with a $3 billion bridging loan.

Tata is looking to the UK government for a bridging loan for the next 24 months as it is difficult to access funding markets, the paper said.

(PTI contributed to this story.)

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