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|21st October 2014, 11:29||#1|
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Jaguar Land Rover considering new plant in USA
British luxury carmaker, Jaguar Land Rover is considering setting up a new manufacturing facility in the US. The company is believed to be in talks with several southern states including South Carolina for building a plant in the world's second largest car market.
Last year Jaguar land Rover sold 425,000 cars globally out of which, 55,000 units were sold in the US. Manufacturing and selling directly in the US will help the company avoid high import tariffs and negate the impact of fluctuating currency rates. The new factory is likely to receive initial support from which ever state is chosen and is expected roll out 200,000 cars annually.
Tata Motors acquired Jaguar Land Rover from Ford in 2008 for a sum of 1.3 billion pounds. The company, which was struggling then, has witnessed a turnaround. The company is expanding its operation around the world. Among its plans is a new factory in China capable of producing 130,000 cars annually and a new engine plant in Wolverhampton built with an investment of 500 million pounds. Additionally, Jaguar Land Rover has signed a deal for a new plant in Brazil and is evaluating the feasibility of opening another one in Mexico. The company is also considering Wales and the Midlands for a new logistics hub.
Jaguar Land Rover intends to take its annual global sales to 1 million units by the end of the decade.
Source: ET Auto
|21st October 2014, 13:36||#2|
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re: Jaguar Land Rover considering new plant in USA
JLR is expanding its manufacturing presence across the globe. China facility will be up by end of year and the announcement for Brazil facility is already out. JLR is also planing a facility in Saudi Arabia and now in US. Global footprint reflects its objective to benefit from the emerging luxury market and as article mentioned above the cost effectiveness.
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