Jaguar Land Rover (JLR) has announced in Geneva that it will increase its investment plans for manufacturing and new product development.
The Tata-owned unit said it will reinforce its commitment to manufacturing in the UK by increasing the investment in its new Engine Manufacturing Centre to more than GBP500m (previously announced investment in the centre was GBP350m). The extra investment will create an extra 650 jobs bringing the total of new jobs to 1,400.
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In addition, JLR said it will invest GBP2.75bn in product creation during the year to support its plans to introduce eight new or refreshed products during 2013.
JLR’s new Engine Manufacturing Centre in the UK will be the home for a new generation of technologically advanced, lightweight 4-cylinder low emission diesel and petrol engines. The new investment plans will almost double the number of highly skilled engineering and manufacturing jobs at the plant, taking the total number of people who will be employed at the site to almost 1,400.
Speaking at the show, JLR’s Chief Executive Officer, Dr Speth said: “Jaguar Land Rover’s new Engine Manufacturing Centre in the UK is a clear demonstration of our business strategy guiding our investment plans.
“Not only does it bring our engine supply back to our production doorstep, but it gives us significant new resource as we continue to innovate with new products and markets.”
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By GlobalDataThe new family of engines is currently under development at Jaguar Land Rover’s research and development facility. JLR says it will strengthen and expand the company’s engine range supporting future product development plans.
The Engine Manufacturing Centre will include an engine testing centre alongside the manufacturing and assembly halls and will open later this year with the first engines coming off the production line in 2015.
Eight ‘new or refreshed products’ planned for 2013
JLR says it will invest GBP2.75bn in product development which will support the launch of eight new products in 2013 including the Jaguar F-Type, as well as the introduction of a nine-speed gearbox in the Land Rover product line-up.
Dr Ralf Speth added: “Since 2008, we have invested in our business and will continue to do so in order to support our strategy for measured, sustainable growth over the next five years.”
JLR says it is the UK’s largest investor in automotive research and development. Exporting 80% of its vehicles, Jaguar Land Rover’s success has been worth almost GBP25bn in export revenues for the UK economy in the last two years. In 2012, Jaguar Land Rover sold 357,773 vehicles, up 30% on the previous year.
