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Jaguar Land Rover to cut $6.8 billion in costs

Jaguar Land Rover reduce costs by $6.8 billion and will push annual production volume to 1 million vehicles under a secret project called Leap 4.5, according to Reuters. The British automaker wants to achieve these ambitious goals by the end of the decade to compensate for the changing market in China and to counteract the price of meeting stricter emissions standards around the world. Leap 4.5 won't mean firing workers or cutting the automaker's $4.5 billion annual research budget. JLR will instead find savings by underpinning more models with modular platforms and by adjusting its supply chain. Future factories like the one in Brazil and the proposed plant in Slovakia also won't be affected by the new strategy. Globally, JLR continues to grow, and deliveries are up two percent through October 2015 to 390,965 vehicles. Business just last month was up 24 percent year-over-year to 41,553 units. However, the auto market's downturn in China has taken a bite out the automaker's success because volume dropped there 32 percent in the third quarter, Reuters reported. A global volume of 1 million vehicles will mean more than doubling 2014's 462,678 deliveries, but JLR has made significant investments to boost production recently. In addition to the future factories, it opened its first plant in China last year and an engine assembly site in the UK. The company also signed a deal with Magna Steyr in 2015 to build an upcoming model in Austria. Related Video:

UK electric motor maker YASA expands production 50-fold for EVs

LONDON — British electric motor manufacturer YASA said on Thursday it was increasing its production capacity from 2,000 to 100,000 units with a new factory to tap into growing demand from carmakers for greener technologies. Automakers are racing to build greener vehicles and improve charge times in a bid to meet rising customer demand and air quality targets but Britain lacks sufficient manufacturing capacity, an area the government is building up. Last year, the government picked a site in central England to house a new automotive battery development facility, which will develop the processes required to manufacture the latest battery advancements. On Thursday, YASA, based near the English city of Oxford, said it had raised another 15 million pounds ($21 million) as part of its expansion. "Our customers are looking to adopt innovative new technologies such as YASA's axial-flux electric motors and controllers in order to meet the needs of the rapidly expanding hybrid and pure electric automotive market," said Chief Executive Chris Harris. The firm exports 80 percent of production and has worked with companies including Britain's two biggest carmakers Jaguar Land Rover and Nissan as well as Aston Martin. JLR will decide this year whether to build electric cars in its home market, previously citing factors such as pilot testing and support from science and government as pre-requisites. Reporting by Costas PitasRelated Video:

Jaguar is ready for the future, and its cars look the part thanks to Ian Callum

There are few living legends in the car business. Jaguar design director Ian Callum is one of them. The longtime stylist announced Tuesday he's stepping down after a decorated career that's seen the resurgence of Jaguar and its again superlative design. Callum, who turns 65 in July, has overseen Jaguar design for 20 years and shepherded it from an era of mediocrity and uncertainty to success with its current lineup of eye-catching products. The brand's 1990s and 2000s cars, led by the haggard X-Type, were too-often forgettable. But in the last decade, Callum has completely flipped the script, returning Jaguar to its sports-car roots with the F-Type while embracing the new period of electric vehicles and crossovers. "Yesterday I told my team I was leaving as Design Director for Jaguar after 20 years. I've done what I set out to do. Time for a new adventure. I pass the baton onto my good friend and great designer Julian Thomson...." Callum tweeted Tuesday. Thompson, a 19-year veteran of Jaguar takes the reins from Callum, who is staying on as a consultant. The move takes effect July 1. As Callum notes, it's not a retirement, though he didn't elaborate. "Given the strength of both our products and the design team I feel that now is the right time to move on, both personally and professionally, and explore other design projects," he said in a statement. The Scottish-born designer studied at the Royal College of Art and was steeped in the tradition of Jaguar and British cars. He had every reason to resist change. He didn't, instead evolving his dream job into an instrument of evolution, and today Jaguar has the most well-rounded portfolio in its history. With EVs like the I-Pace the brand has an elegant and efficient car capable of taking down Tesla, while the F-Pace and E-Pace crossovers are bringing Jaguar to a new kind of customer. "In my view, the World Car Design of the Year winning F-Type, F-Pace and I-Pace – true game changers – are perhaps his greatest achievements. I believe they will be future icons," Jaguar Land Rover chief executive Ralf Speth said in a statement. Through it all, Callum never lost focus on Jaguar's sense of purpose. Along with Aston Martin, McLaren and Rolls-Royce, Jaguar holds a place in Britain's car culture and broader identity. He recognized when Jaguar rolled out a sports car openly tapped as the successor to the E-type – and then called it the F-Type – it carried the weight of history on its aluminum chassis.