The Jaguar Land Rover brand has seen its fair share of hard times – but now its future has received another welcome boost.

GE Capital has signed an agreement with the UK based subsidiary of Indian group Tata Motors. Under the terms of the agreement, it will provide a working capital facility of up to £170million over a five-year term.

The facility represents a new structure to finance the company’s finished vehicle stocks from the point of production through to their sale to dealers on a revolving basis.

Rich Laxer, the EMEA President and CEO of GE Capital, described the agreement as the first time that a facility has been created in Europe to leverage this part of the distribution cycle. He said it is demonstrative of how the company’s pan-European asset and structuring expertise can benefit customers.