Jaguar Land Rover to lift investment at UK engine plant
GENEVA (Reuters) - Luxury car maker Jaguar Land Rover plans to increase investment at its UK engine plant and double employment at the site to around 1,400, its chief executive said on Monday.
Ralf Speth told a press conference ahead of the Geneva car show the firm planned to increase investment at the plant in central England to over 500 million pounds from a previous plan of around 350 million.
Jaguar Land Rover (JLR), owned by India's Tata Motors, has ridden a rise in demand for its luxury saloons and SUVs over the past two years, notably in China and other emerging markets, bucking the trend of plant shutdowns and falling production at many European automakers.
The investment is part of a surge in capital spending in JLR's production facilities.
In China, for example, the company and local partner Chery Automobile (CHERY.UL) are building a factory.
Company sources also told Reuters on Saturday that JLR was investigating the potential of manufacturing cars in India.
Despite its plans overseas, JLR has continually stressed its dedication to its plants in Britain, where it says it is the country's largest automotive investor in research and development.
- Tweet this
- Share this
- Digg this
- No Russia-Ukraine gas deal at EU talks; Moscow queries finances |
- UPDATE 1-Tennis-WTA Finals women's singles round robin white group results
- Sweden gets two new sightings, as hunt for undersea intruder goes on
- Singer Kesha denied drug, sex claims against producer three years ago
- U.S. to funnel travelers from Ebola-hit region through five airports