MONEY MATTERS

Tata Motors’ subsidiary, Jaguar Land Rover has plans to invest in a new facility in the U.K. The announcement is made for plans to invest 355 million pounds to manufacture all new, advanced technology, low-emission engines. Jaguar Land Rover’s CEO, Ralf Speth, has said: “As part of our long-term strategy for the JLR business, we will design, engineer and manufacture a new family of advanced engines. This is a major commitment for our company and we will produce these advanced, highly-efficient engines for future Jaguar and Land Rover models at a new facility in the U.K. 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 realize the full global potential of the Jaguar and Land Rover brands. The all-new family of four cylinder engines will increase JLR’s capability to offer high performance engines with class-leading levels of refinement, while ensuring continued significant reductions in vehicle emissions.” This facility is expected to create up to 750 engineering and manufacturing posts, along with thousands more manufacturing jobs in the supply chain and the wider U.K. economy.

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