Member Article

Jaguar Land Rover to invest £10bn before 2019

Car manufacturer Jaguar Land Rover has plans to invest £10bn over the next seven years, to drive production at its plants to double its current output.

Industry briefings are thought to have uncovered a range of 16 new car models that will be manufactured at the company’s North West and Midlands plants.

Plans to expand in China and India were also revealed, as the firm plans to double sales and expand UK capacity at its manufacturing sites.

A sum of £1.8bn will also be reportedly spent on developing a manufacturing site in China.Jaguar Land Rover announced it had doubled profits during the second quarter of 2012, with profits before tax reaching a £431m.

JLR’s Chief Executive, Dr Ralf Speth, said: “In the third quarter, we will see the first customer deliveries of the all-new Range Rover along with the introduction of the Jaguar XF Sportbrake and all-wheel drive versions of the Jaguar XJ and XF.”

After creating 8,000 new jobs since 2010, the company now has plans to boost productivity even further.

JLR’s plans have not been officially confirmed by the company, however there were indications that the firm intended on expanding in its second quarter results released on Wednesday.

Dr Speth added: “Jaguar Land Rover will continue to invest in its products, plants and will drive further growth by spending in the region of £2bn across the financial year.”

This was posted in Bdaily's Members' News section by Miranda Dobson .