Reuters logo
Jaguar Land Rover says Slovakia's state aid does not break EU rules
May 25, 2017 / 2:06 PM / 6 months ago

Jaguar Land Rover says Slovakia's state aid does not break EU rules

LONDON (Reuters) - Britain’s biggest carmarker Jaguar Land Rover (JLR) said on Thursday that Slovakia’s offer of state aid to secure the construction of a 1 billion-pound plant falls within EU guidelines after officials launched a probe.

Signs are seen outside the Jaguar Land Rover plant at Halewood in Liverpool, northern England, September 12 , 2016. REUTERS/Phil Noble

EU state aid regulators opened an investigation on Wednesday into Slovakia’s plan to grant 125 million euros (£108.30 million) to Tata Motors’ (TAMO.NS) luxury British arm JLR, saying they had concerns about the legality of the measure.

“Slovakia’s offer of State aid is in line with the Commission’s regional aid guidelines,” the automaker said in a statement.

“Slovakia’s offer of support was a necessary component in Jaguar Land Rovers decision to select Europe rather than Mexico for this investment.”

Reporting by Costas Pitas, Editing by Paul Sandle

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below