Jaguar Land Rover set for £5bn investment from Tata
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 major 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 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.
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.
Whether the new investment includes plans for the new engine plant is unclear at this stage.
However, such an increase in production will certainly warrant the firm getting its own supply of engines.
It currently receives engines from Ford as a legacy of its former ownership, however, the company is struggling to meet demand.
The location of the new plant is also uncertain at this stage although there is speculation it could be at the i54 site outside Wolverhampton. Sites in South Wales and India have also been suggested.
There is also speculation today’s announcement could eventually see JLR developing engine technology in collaboration with Formula 1 racing team Williams.
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