The European Investment Bank (EIB) has approved funding for Jaguar Land Rover and Nissan.

The EIB today approved a whopping £340m package for Jaguar Land Rover and a £370m (400m euros) package for Nissan’s UK and Spain operations.

Jaguar Land Rover had applied for money to invest in research and technology to develop more environment-friendly cars at its Midlands and Merseyside plants. I personally think this is a bit of a lie and they desperately require the money just to stay afloat.

Lets hope they go back to building good old utility vehicles rather than these Chelsea tractors they have been churning out recently. Who needs a 4×4 in London?

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