March 27, Reuters

U.S. car maker sells its Jaguar and Land Rover brands to India's Tata Motors in a $2.3 billion deal.

For Tata, the company which is launching the ultra-cheap Nano or "People's Car", the transaction will add high-end luxury to its portfolio.

Ford, for its part, gets to shed the money-losing Jaguar brand and gains a cash infusion at a time when the U.S. market is slumping.

Reuters correspondent Siddhartha Dubey reports.