Jaguar Land Rover eyes Brazil expansion: FT
LONDON (Reuters) - Tata Motors (TAMO.NS) is in talks with Brazilian authorities about setting up a plant to assemble Jaguar Land Rover's (JLR) Freelander four-by-fours, the Financial Times reported on Monday.
Once assured that it can produce cars in sufficient volume, Jaguar Land Rover will then look at setting up a plant in Brazil, which is on track to become the world's third-biggest car market, the FT said.
"We thought about setting up a plant or assembly line, but you need a critical mass of volume. Therefore, we are talking to government about how this kind of step can be made for a small company like us," the FT quoted JLR chief executive, Ralf Speth, as saying.
The British luxury brand, which Tata bought for $2.3 billion in 2008, produces the bulk of its cars at three plants in England.
JLR's growth in overseas markets has helped insulate Tata from a sluggish domestic car market which grew just 2.2 percent in the last financial year.
(Reporting by Stephen Mangan; editing by Gunna Dickson)
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Scots spurn independence in historic vote, devolution battle begins |
- Alibaba surges 38 percent on massive demand in market debut |
- Eight bodies found after attack on Guinea Ebola education team
- French jets strike in Iraq, expanding U.S.-led campaign against Islamic State |