JLR reveals growth plans
Jaguar Land Rover (JLR) is set to invest £450m in its engine manufacturing centre, doubling the size of the plant to 200,000sqft.
The investment will see the creation of hundreds of new jobs. Opened in 2014 by The Queen, the site already employs 700 people, a number it expects to double.
Mike Wright, executive director of Jaguar Land Rover, believes the plant is ‘absolutely pivotal’ to the company’s plans for global expansion. ‘As we grow our volumes around the world we need more capacity,’ he said. ‘We started the initial phase just 12 months ago, that’s gone really well, and we’re now planning for the next phase for the next two or three years.’
Meanwhile, JLR is set post a lower pre-tax profit in 2015 than in the previous fiscal year. JLR’s chief executive, Ralf Speth said it was due to major investments and a blast at China’s Tianjin port which destroyed thousands of its cars.