Tata-owned Jaguar Land Rover has just negotiated a massive loan from the European Investment Bank for the development of new hybrid models.

The $600-million technology is slated for the new XJ flagship - due here by 2010 - and the XE Roadster. Jaguar looks like doing the Chevy Volt bit and going for an extended-range petrol electric hybrid - where a high-performance, three-cylinder petrol generator pumps up the batteries that drive electric motors that drive the wheels.

Land Rover looks like going for a more conventional Prius-style petrol-electric hybrid.