Click it and Unblock the Notifications
Tata Motors To Manufacture Jaguar Land Rover Cars In Billion Dollar TN Plant - Report
Indian carmaker Tata Motors, is set to embark on a significant venture by manufacturing Jaguar Land Rover luxury cars in Tamil Nadu, claims a new report by Reuters citing sources.
According to the publications, the move which involves an investment of $1 billion for a new factory, represents a first for Jaguar and Land Rover vehicles in India. The new facility will be the first production facility in the country where Jaguar and Land Rovers cars willbe built in India.
Jaguar and Land Rover are owned by Tata Motors and cars from the British marques are currently assembled at Tat's plant in Maharashtra. The new facility will not only be used to cater to the domestic market but will also be used to manufacture JLR vehicles for export markets. Jaguar Land Rover currently has multiple manufacturing facilities in the UK along with production plants in Slovakia, Brazil and China.
Tata bought Jaguar and Land Rover in all-cash transaction of $2.3 billion from Ford back in June 2008, a number that was said to be half of what the American firm paid to accquire the two British automotie brands in the first place. Since then, Jaguar and Land Rover have become an integral part of Tata Motors, contributing to about two-thirds of Tata Motors' revenue in the financial year that ended in March 2023.
In the fiscal year ending March 2023, Tata Motors reported its first annual profit in five years, with Jaguar Land Rover plaing a big part in that success story thanks to the robust demand for Range Rover SUVs and Jaguar saloons globally. Despite stiff competition from luxury car giants like Mercedes and BMW, JLR's sales in India surged by 81% in the previous financial year, with 4,436 units sold, as the growing appetite for luxury vehicles in India continued to surge.
Thoughts About JLR Manufacturing In Tamil Nadu
News of the Tata using its new faciliity in Tamil Nadu to manufacture Jaguars and Land Rovers in India itself, shows jut how much the firm depends on its British facilities. While the specific models to be produced at the new facility remain undisclosed, the move to manufacture JLR cars in India, if true, will help the two British firms further strengthen their presence here in India.
Continue with Google