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Jaguar Land Rover invests $1.5B to build factory in Slovakia

Jaguar Land Rover will invest 1 billion pounds ($1.5 billion at current rates) to build a new factory in Nitra, Slovakia. Construction will commence in 2016, and the site will have an initial capacity of 150,000 vehicles a year when the first of them roll out in late 2018. JLR expects to employ 2,800 people there. JLR won't yet say what vehicle it will build in Slovakia, other than it will be an all-new aluminum model. The 2018 timing for the plant's start of production seems to coincide with the launch of the radically different next-gen Land Rover Defender, though. Earlier reports suggested that JLR also considered locations in North America, particularly Georgia, and Europe for the new factory. However, the company signaled the Slovakia choice earlier this year when it signed a letter of intent with the government there in August. The automaker then did a final feasibility study before committing to the site. The new factory continues JLR's recent manufacturing expansion. The company opened an engine plant in the UK last year and a factory in China. There will also be one soon in Brazil, and it will reportedly bid to buy the Silverstone Circuit as a new headquarters. JAGUAR LAND ROVER CONFIRMS NEW FACTORY IN SLOVAKIA • New world-class premium manufacturing facility confirmed in Nitra • The next stage of the Company's plans for sustainable global growth • Today's announcement also supports long-term investment in the UK Bratislava, Slovakia – Jaguar Land Rover has confirmed that it will be the first British carmaker to open a manufacturing facility in Slovakia. The announcement follows an agreement between the company and the Government of the Slovak Republic to build a new plant in the city of Nitra, western Slovakia. The new world-class GBP1 billion premium manufacturing facility will eventually employ around 2,800 people. Today's announcement follows Jaguar Land Rover's recent confirmation to double its investment in its engine plant in the UK to almost GBP1 billion – the largest injection into a new British manufacturing plant in decades creating several hundred new jobs. Dr Ralf Speth, Chief Executive Officer, Jaguar Land Rover commented, "Jaguar Land Rover is delighted today to welcome Slovakia into our family. The new factory will complement our existing facilities in the UK, China, India and Brazil and marks the next step in the company's strategy to become a truly global business.

Land Rover to build Discovery Sport at new Brazilian factory

Looking forward to getting your mitts on a new Land Rover Discovery Sport? Well you should, because it promises to be a markedly better product than the Freelander/LR2 it replaces. Just don't assume it will necessarily be built in the UK, as just about every Land Rover has in the company's 66-year history. The new Discovery Sport (pictured above in Sao Paulo) will, of course, be built in the UK, at the Halewood plant where the Evoque is made and which has in the past handled the Freelander, the Jaguar X-Type and a variety of Fords. But it will also be assembled for local consumption at JLR's new factory in Changsu, China. And, according to the press release down below, it will also be made for the Latin American market at the new factory being built in Brazil. The new plant is being built in Itatiaia on the outskirts of Rio de Janeiro and will come online in 2016. Once it gets up to speed by the end of 2020, it will have the capacity to build 24,000 vehicles each year, ratcheting its workforce up from 400 when it opens to nearly 1,000 when all's said and done. The Discovery Sport will be one of the products made there for the local market, but it surely won't be the only one. As in China, we expect the Evoque will be built there as well, and we wouldn't be surprised to see the new Jaguar XE join it in the near future, either. Don't expect the Brazilian-made vehicles to be sold in the US, though: those will likely still be imported from the UK... at least, that is, until the facility said to be under consideration for the southern United States opens its doors. JAGUAR LAND ROVER CONFIRMS ITS ALL-NEW DISCOVERY SPORT FOR BRAZIL FACILITY - Jaguar Land Rover confirms Discovery Sport as one of the models to be produced at its new local manufacturing facility in Brazil - R$750m investment in the new facility in Itatiaia in the State of Rio de Janeiro - Annual production capacity of 24,000 units for the Brazilian market only – from 2016 Sao Paulo, Brazil – Jaguar Land Rover confirmed today, at the Sao Paulo International Motor Show, that its breakthrough Land Rover Discovery Sport will be one of the first models to be built at its new R$750m (GBP240m) local manufacturing facility in Itatiaia, Brazil. The new factory, which will see a total investment of R$750m (GBP240m) by the end of 2020, will supplement UK production and have the capacity to build 24,000 vehicles annually for the Brazilian market.

Jaguar Land Rover hands Tata the biggest loss in Indian corporate history

BENGALURU/NEW DELHI — Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss for the year versus an earlier projection it would break even, given weak sales at the luxury British carmaker. JLR's China retail sales were cut almost in half in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalization of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 percent. The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 percent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.