Jaguar Land Rover (JLR) has reportedly launched project Leap 4.5, which aims to cut costs by GBP4.5bn (US$6.8bn) and manufacture 1m cars each year by 2020.
Reports suggest that the project involves building more models on similar core skeletons, overhauling supply chains and slowing down or halting the recruitment process.
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However, while the plan is designed to offset the effects of slowing sales in China and the high costs of meeting emissions standards, it will reportedly not impact the GBP3 billion pound-a-year capital spending budget on research and development and building new plants.
