Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Jaguar Land Rover Building New Engine Plant In UK

Photo Credit :

Luxury car maker Jaguar Land Rover, part of Indian group Tata Motors, will invest 355 million pounds ($561 million) on a new engine plant in central England, it said on Monday.

The government, keen to support manufacturing in Britain, will provide up to 10 million pounds for a plant expected to create 750 jobs.

"JLR choosing Wolverhampton for its new engine plant in the face of tough international competition is a tremendous boost for manufacturing in the UK and the West Midlands in particular," said business secretary Vince Cable.

Cable, a member of the Liberal Democrat junior coalition party, marked the announcement by visiting a JLR production plant in nearby Solihull. The Lib Dems are holding their annual conference in Birmingham, the largest city in the region.

Jaguar Land Rover already employs more than 19,000 people in Britain and supports up to 140,000 jobs. It has been boosted by strong demand from emerging markets such as Russia and China for its cars.

"As we invest 1.5 billion pounds a year for the next five years on new product developments, expanding our engine range will help us realise the full global potential of the Jaguar and Land Rover brands," said Ralf Speth, JLR CEO.

Britain is seeking to support manufacturing as part of efforts to rebalance an economy that had been over-reliant on financial services.

Britain's car industry is now largely foreign-owned but employs around 800,000 people and accounts for about 10 per cent of the country's exports.

Speth said last week at the Frankfurt auto show that Jaguar Land Rover (JLR) expected to decide on a local partner for production in China by the end of this year.

(Reuters)


Tags assigned to this article:
business auto tata motors news 5 jaguar landrover ralf speth