JLR lines up 3.75bn pounds for new products,capacity expansion

first_imgLondon, May 30 (PTI) Tata Motors-owned Jaguar Land Rover plans to invest around 3.75 billion pounds during the current fiscal on expanding production capacity, new product launches and enhancing technologies. “The company plans to invest in the region of 3.75 billion during fiscal 2016-17 to support continued, sustainable, profitable growth in the future,” Jaguar Land Rover (JLR) said in a statement. The investment will go into expansion of global production capacity, new technologies and new vehicles, such as the Jaguar F-PACE and the Range Rover Evoque Convertible that will unleash the potential of both brands in the future, it added. “JLR has produced and sold more cars than at any time in our history. We are now the largest automotive manufacturer in the United Kingdom,” the companys Chief Executive Officer Ralf Speth said. During the last fiscal, the company delivered sustainable, profitable growth and introduced new models ? such as the Discovery Sport, Jaguar XE and XF ? that have redefined their market segments, he added. “Furthermore, we are on track to deliver even more sensational products that will underpin the future performance of the business,” Speth said. The generally positive outlook for the global premium automotive market and the forthcoming launches of exciting JLR vehicles are expected to support the growth of the company in the future, he added. The companys retail sales exceeded 5 lakh units for first time, up 13 per cent year-on-year with expanded line-up including Land Rover Discovery Sport, Jaguar XE and XF. PTI MSS RKL MRlast_img

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