The Indian car giant Tata Motors announced on Tuesday that it has secured £175m of private funding for its UK-based luxury car business, Jaguar Land-Rover (JLR). The news means the group will no longer seek up to £800m of state support. The global turmoil has made the all cash $2.5 billion acquisition of Jaguar Land-Rover (JLR), a big problem for Tata motors. Tata executives are understood still to be fuming at how the government handled their request. They are understood to be particularly angered by the leaking of letters during the negotiations, including one last week from Ratan Tata, Tata group chief executive, in which he said the company had found alternative sources of finance and would no longer need government help. UK's Business Secretary Peter Mandelson said that "The fact that the banks and commercial capital markets are meeting JLR's funding is a clear sign of confidence in the company, its products and the automotive sector." TATA Motors in a statement said that "With the positive trend in the external environment in financial markets and improvement in general liquidity, these arrangements have been and are expected to be concluded without necessitating guarantees from the UK government, for which discussions had been ongoing for some time.”