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Jaguar Land Rover to upgrade Castle Bromwich plant to build EVs

LONDON — Jaguar Land Rover is making a multi-million pound investment to build electric vehicles in Britain, in a major boost for the UK government and a sector hit by the slump in diesel sales and Brexit uncertainty. Britain's biggest car company, which built 30 percent of the UK's 1.5 million cars last year, will make a range of electrified vehicles at its Castle Bromwich plant in central England, beginning with its luxury saloon, the XJ. "The future of mobility is electric and, as a visionary British company, we are committed to making our next generation of zero-emission vehicles in the UK," Chief Executive Ralf Speth said on Friday. The announcement gives a boost to Britain's automotive sector hit this year by Honda and Ford's plans to close factories. Jaguar Land Rover (JLR) has highlighted the dangers of a no-deal Brexit and the need to maintain frictionless trade with the European Union, echoing warnings from the industry that just-in-time production could be hit by customs delays and additional bureaucracy. But it has signed a deal with workers at the Castle Bromwich factory to go from a five-day to a four-day working week with the same amount of hours which should allow the plant to operate more efficiently. Three of JLR's four European car plants are in Britain, giving it limited capacity elsewhere on the continent. The other, in Slovakia, only opened last year and is still being ramped up with other models allocated there. "We are making this investment because the ongoing Brexit uncertainty has left us with no choice, we had to act, for our employees and our business," JLR said. "We are committed to the UK as our home and will fight to stay here but we need the right deal." Both candidates to replace Prime Minister Theresa May, Boris Johnson and Jeremy Hunt, have both said they are prepared to take Britain out of the EU on Oct. 31 without a deal, although it is not their preferred option. Brexiteers have argued that the EUÂ’s biggest economy Germany, which exports hundreds of thousands of cars to Britain ever year, would do its utmost to protect that trade Friday's announcement comes after a turbulent few months for Jaguar which announced around 4,500 job cuts earlier in January and posted a 3.66 billion pound ($4.5 billion) loss in 2018/19.

Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.

BMW X6 M said to lap the 'Ring in 8:20

Bimmer Today reports that the German rag Auto Zeitung ran an Audi RS3 and a BMW X6 M around the Nurburgring together, and the hotted-up sports activity vehicle came in just five seconds behind the white-hot hatch. Driven by 'Ring regular Horst von Saurma, the RS3 ran its lap in 8 minutes, 15 seconds, and the X6 M ran an 8:20. If those times are accurate, that makes the X6 M the second fastest production SUV on the lap-time list according to Wikipedia: ahead of it is the 550-hp Range Rover Sport SVR, which ran a time of 8:14. That time puts BMW's 575-horsepower, 5,200-pound SUV four seconds ahead of the time registered by the last-gen, 555-hp X6 M, and well ahead of the Porsche Cayenne Turbo S that Sport Auto clocked an 8:34 with. It would not, however, match the predictions that X6 M project manager Herbert Bayerl made for it in an interview with Sport Auto earlier this year. Bayerl said "The new BMW X6 M moves at the level of M3," speaking of the E92 BMW M3 that Sport Auto ran around the 'Ring in 8:05. It is, though, two seconds faster than the E46 M3, which lapped in 8:22. Bayerl called out the Range Rover Sport SVR directly, saying, "We have been traveling much faster in testing and have undercut the time of Range Rover several times," and "We don't need any special attachments to go faster." Auto Zeitung's report on the lap is only for subscribers so we'll have to wait for more official news. For the apples-to-apples comparison we'll be looking forward to Sport Auto's hot lap, then we'll know if the Range Rover has anything to fear. Related Video: