Jaguar Land Rover is planning to build a new engine plant in central UK. Jaguar Land Rover is a luxury car maker owned by Tata Motors and will invest $561 million (355 million pounds) for this new engine plant in UK.
The UK government is keen to support manufacturing in England and will provide 10 million pounds for the plant. This will boost growth & business in the area and the plant is expected to create 750 jobs.
The company has over 19000 employees in its 3 plants in UK and supports around 140,000 jobs indirectly in dealer network, supply chain and wider economy
This new set up will help the company to compete with its competitors BMW AG, Daimler AG and Audi Ag in the luxury car segment. This new manufacturing plant will give competition in growth markets of Russia and China meeting all the emission norms. Analysts are of the opinion that the latest model Jaguar XF, Range Rover Evoque Land Rover Discovery, Range Rover and Defender has been doing well in the growth market.
According to JLR CEO the company is investing 1.5 billion pound each year for the next 5 years for new product developments. They are also expanding their engine range which will help them to realise the potential Jaguar and Land Rover brands.
In order to rebalance its economy Britain is supporting building up of manufacturing plants. UK car industry employs more than 800,000 people. As the car industry is largely foreign owned and it accounts for 10 per cent of country’s exports.
In last week Frankfurt auto show CEO Ralf Speth (JLR) said that by the end of this year they are expecting to choose a local partner to start production in China.
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