Tata Motors of India is set to be chosen by Ford as the preferred bidder for Jaguar and Land Rover as early as Friday.

People close to the situation said Tata had pulled ahead of rival Indian carmaker Mahindra & Mahindra and One Equity, the private equity firm whose bid is being led by Jac Nasser, former Ford chief executive. The offer is said to be in the range of $1.8bn-$2.2bn (£908m-£1.1bn).