Jaguar Land Rover seeking funding after huge write-down - report

Jaguar Land Rover is seeking US$1 billion in funding after a disastrous fourth quarter of 2019, huge-write downs on the value of its investments, and continued sales struggles in China. According to a report from Automotive News Europe, the Indian-owned carmaker needs to raise US$1 billion ($1.4 billion) within the next 14 months to replace "maturing bonds" and fund the brand's expensive electric vehicle development program.