New Delhi: Jaguar Land Rover (JLR) Plc, the British luxury car-making unit of India's largest commercial vehicle maker Tata Motors Ltd, plans to spend 200 million pounds (about Rs 17 billion) in a plant at Castle Bromwich in central England to manufacture new Jaguar models, the Daily Telegraph reported Thursday.
The plant was on the verge of closure three years back as the luxury car maker considered reducing UK workforce due to a sharp fall in sales.
With the investment, the company is likely to create up to 1,000 jobs and raise capacity of the facility by 50%, the paper said.
The company will manufacture Jaguar's new F-type sports car at the plant, and plans to commence expansion work at the factory swiftly.
JLR is spending 1.5 billion pounds every year on research and development and looks to launch 40 new models or variants of new models over the next five years.
Earlier March, this year, JLR said that it has decided to form an equal joint venture with China's Chery Automobile Co Ltd to manufacture and sell luxury cars in China.
JLR will invest 3.5 billion yuan (around Rs 28 billion) for a 50% stake in its proposed joint venture with China's Chery Automobile.
Tata Motors, an Indian commercial vehicles major, had acquired Jaguar and the Land Rover vehicle brand from Ford Motor Co in June 2008 for $2.4 billion.
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