Jaguar Land Rover to lift investment at UK engine plant
GENEVA (Reuters) - Luxury car maker Jaguar Land Rover TAMOJL.UL plans to increase investment at its UK engine plant and double employment at the site to around 1,400, its chief executive said on Monday.
Ralf Speth told a press conference ahead of the Geneva car show the firm planned to increase investment at the plant in central England to over 500 million pounds ($754 million) from a previous plan of around 350 million.
Jaguar Land Rover (JLR), owned by India's Tata Motors (TAMO.NS), has ridden a rise in demand for its luxury saloons and SUVs over the past two years, notably in China and other emerging markets, bucking the trend of plant shutdowns and falling production at many European automakers.
The investment is part of a surge in capital spending in JLR's production facilities.
In China, for example, the company and local partner Chery Automobile (CHERY.UL) are building a factory.
Company sources also told Reuters on Saturday that JLR was investigating the potential of manufacturing cars in India.
Despite its plans overseas, JLR has continually stressed its dedication to its plants in Britain, where it says it is the country's largest automotive investor in research and development.
($1 = 0.6635 British pounds)