Protracted Brexit talks are weighing on the recovery prospects of Jaguar Land Rover, according to its Indian owner. The focus of Tata Motors, which bought JLR in 2008 from Ford, is to ensure the automaker remains financially strong in the face of the challenges, Tata Sons Chairman Natarajan Chandrasekaran said in an interview over the weekend. Tata Sons is the parent of Tata Motors.
Jaguar Land Rover plans to build a 500 million dollars manufacturing plant in Brazil, the O Globo newspaper reported on Sunday. The daily wrote that the Rio de Janeiro factory will be the company's second production facility outside Britain, in addition to one China. It also has an assembly plant in India.
British luxury car company Jaguar Land Rover has announced plans to build two of its models in China. It will be the first full manufacturing plant for the company outside the UK. Although the plans still have to be given final approval by the Chinese government, Jaguar Land Rover has already found a site for the plant, just north of Shanghai.
Jaguar Land Rover, the luxury car unit of India's Tata Motors has followed Germany's BMW AG in suspending plans to build a new plant in Brazil as tax changes and slowing growth have given premium auto makers cold feet about investing in a potentially lucrative market.
Jaguar Land Rover expects China to become its largest market in the next few years, according to Bob Grace, president of Jaguar Land Rover China, who said that the company aims to sell over 40,000 vehicles in China this year, which will be a significant growth of 54% over last year's 26,000 units.
Land Rover's global sales almost doubled last month, with demand for the 4x4 vehicles growing strongly as the world economy recovers.