Jaguar Land Rover to reveal £5bn investment plan
Jaguar Land Rover owner Tata Motors is today set to announce a £5bn investment in the auto manufacturer paving the way for a raft of new models and the probability of a new engine plant.
The Indian conglomerate has called a press conference in London where details of the expansion are expected to be unveiled.
It is thought the firm will announce plans for a new entry-level Jaguar saloon to rival BMW’s 3 Series and possibly a new sports car and for the first time, a Jaguar SUV (Sports Utility Vehicle) to capitalise on the popularity of the large vehicles in the recovering North American markets.
The expansion will also allow the firm to capitalise on the growing demand for its models in the emerging markets of India and China.
Today’s announcement comes just weeks after the Government revealed it was ready to grant the firm millions of pounds through the Regional Growth Fund to undertake design engineering for a new family of engines and separately, for a new small common vehicle platform for technologically advanced premium automotive vehicles in Whitley and Gaydon.
JLR is creating around 1,500 jobs at its Halewood Plant near Liverpool on a new Range Rover model, Evoque, which is going on sale later this year.
Ralf Speth, JLR chief executive, said the firm shared the Government's ambitions for the UK to become the leading European high-technology export economy.
There is also speculation the funding could pave the way for the firm to develop engine technology in collaboration with Formula 1 racing team Williams.
Jaguar Land Rover owner Tata Motors is today set to announce a £5bn investment in the auto manufacturer paving the way for a raft of new models and the probability of a new engine plant.
The Indian conglomerate has called a press conference in London where details of the expansion are expected to be unveiled.
It is thought the firm will announce plans for a new entry-level Jaguar saloon to rival BMW’s 3 Series and possibly a new sports car and for the first time, a Jaguar SUV (Sports Utility Vehicle) to capitalise on the popularity of the large vehicles in the recovering North American markets.
The expansion will also allow the firm to capitalise on the growing demand for its models in the emerging markets of India and China.
Today’s announcement comes just weeks after the Government revealed it was ready to grant the firm millions of pounds through the Regional Growth Fund to undertake design engineering for a new family of engines and separately, for a new small common vehicle platform for technologically advanced premium automotive vehicles in Whitley and Gaydon.
JLR is creating around 1,500 jobs at its Halewood Plant near Liverpool on a new Range Rover model, Evoque, which is going on sale later this year.
Ralf Speth, JLR chief executive, said the firm shared the Government's ambitions for the UK to become the leading European high-technology export economy.
There is also speculation the funding could pave the way for the firm to develop engine technology in collaboration with Formula 1 racing team Williams.
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