A quarter after Tatas acquired the luxury British car brands Jaguar and Land Rover, they have gone ahead tying up with a Fiat led consortium to finance buying of these cars.

Fiat and France Based Credit Agricole will now provide full range of automotive financial services for JLR dealers and customers.

The agreement will gradually replace the arrangement with Ford whose financial arm provided support during the Ford ownership of Jaguar Land Rover.

“Yes that's true that Fiat won through competitive bidding. But it is now widely expected that Tatas and Fiat will do a lot more work together,” said Ravi Kant, ED, Tata Motors.

Regarding Tata’s plans to take Nano at the global arena, Fiat and Tatas are already talking about how the small car will be distributed and financed.

If successful, these talks could lead to the Nano being sold through Fiat's dealerships and there is wide speculation in Europe that the Nano could even be badged as a Fiat in countries outside India.

Even though Nano will take some time before it meets safety standards, the Tatas are starting their eco drive with Land Rover.

Sources say land rover plans to invest 700 million pound in a bid to make its vehicles greener over the next five years.

For Ratan Tata all this news is a step forward to rubbish his critics who believed buying JLR would have had the Tatas bleeding.