The Latest European Union emission and mileage standards have started to show their effects as an Indian contender for the Land Rover Jaguar Ownership, Mahindra and Mahindra has moved out of the deal stating the same as the reason.
The Economic Times mentioned that the stringent regulations to be enforced by 2012 was the main reason for the Indian bidder to pull out as none of the two brands notably have smaller and more efficient models in their entire range.
The dependency on Ford for key components even after the transfer was the other reason cited for them backing out.
Tata Motors Corporation, the other Indian bidder, is still a strong contender for the bid though the news of them joining hands with Fiat for a joint take over has been doing quiet some rounds, which is, still a speculation as Ford seems to be interested in handing over the entire stakes to a solitary owner.
