Jaguar Land Rover mulling opening of Brazil car plant
LONDON (Reuters) - British luxury carmaker Jaguar Land Rover on Wednesday said it was studying the possibility of opening a manufacturing plant in Brazil.
"A detailed feasibility study is underway to consider Brazil as a possible future location for a Jaguar Land Rover automotive facility," the company said in a statement sent to Reuters on Wednesday, adding that "no final decisions have been made."
The company, owned by India's Tata Motors (TAMO.NS), added that it has ambitious plans to expand its manufacturing footprint and increase production in markets outside of Britain, particularly in China and Brazil.
Earlier on Wednesday Brazilian newspaper O Estado de S.Paulo reported that Land Rover was looking to invest around 270 million pounds ($431.72 million) in a facility to build SUVs in Rio de Janeiro state.
($1 = 0.6254 British pounds)
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