Three months after launching Nano, the world's most inexpensive family vehicle at the Rs.1 lakh, Tata Motors Sunday launched here the iconic Jaguar and Land Rover cars, to cost between Rs.63 lakh and Rs.92 lakh in India.

Tata Motors chairman Ratan Tata said initially, three Jaguar and two Land Rover models would be available in the country.

While Jaguar models will be available in the price band of Rs.63-92 lakh, the Land Rover will be in the Rs.63-89 lakh range. They will be available in five-six cities after checking out the response in Mumbai.

"Finance options will be available from Tata Motors," Tata said, adding: "I think the cars will exhibit the levels of technology and levels of performance here."

"The Indian market holds significant growth potential in the long term, and we hope to tap the demand for premium vehicles from discerning customers," Jaguar-Land Rover chief executive David Smith said.

Land Rover managing director Phil Popham declined to spell out the numbers the company was looking at. "Both Jaguar and Land Rover are premium, niche and exclusive brands. We are looking at relative small numbers. The challenge is to establish the brands here," he said.

The company has invested over 800 million pounds to make the vehicle more eco-friendly with features like aluminium body and reduced carbon-dioxide emissions.

Tata Motors acquired Jaguar and Land Rover from Ford Motor Co for $2.3 billion in March last year.

Ironically, Tata Motors posted a net loss of over Rs.2,500 crore last fiscal mainly on account of this acquisition, apart from the economic crisis that has hit the auto sector globally.