Jaguar Land Rover plans new factory in Slovakia
LONDON (Reuters) -- Jaguar Land-Rover has signed a letter of intent to create a brand new auto plant in Slovakia, another growth from its British production base.
The business name, possessed by India's Tata Group since 2008, will perform a feasibility study to get a manufacturing plant in Nitra, western Slovakia. The goal would be to start the plant in 2018 and achieve a yearly production of up to 300,000 automobiles over the next decade.
A final judgment on the plant is going to be made after in 2013, the auto-maker said in a statement nowadays.
The car-maker stated the facility would perform an important part in raising the variety of lightweight aluminum versions made and that it'd rejected places in Europe, the US and Mexico and only Nitra because of a solid supply chain and great infrastructure.
"Using its established superior automotive market, Slovakia is an appealing possible development possibility for us," JLR CEO Ralf Speth said in the declaration.
Slovakia has brought other carmakers. Volkswagen assembles a wide selection of versions there including its Touareg and Audi Q7 main SUVs at its Bratislava plant, Republic Of Korea's Kia created more than 300,000 automobiles in the state last year while PSA/Peugeot Citroen Slovak device created over 255 255,000 automobiles last year.
Prime Minister Robert Fico said he was dedicated to fostering the nation's premium auto sector and also would work closely with Jaguar-Land Rover to make sure the plant is constructed in Slovakia.
"It'd give a boost to our nation's broader industrial technique," he mentioned.
Jaguar Land-Rover has steadily raised the amount of versions it constructs outside of the United Kingdom, starting its first international manufacturing plant in China in October.
As part of strategies to bring generation nearer to important markets, JLR will start a plant in Brazil in 2016 as well as the firm signed a producing partnership in July with Magna Steyr, an integral part of Magna Global, to construct models in the Austrian town of Graz.
Jaguar Land-Rover has benefited from substantial investment as it had been purchased by Tata from Ford. Its 2014/15 pretax earnings increased to 2.61 billion lbs, double the number of four years past.
As with other auto makers, the organization is facing a slow down in China, where economic growth has dropped to A - 25-year low. On Friday, Tata Motors stated it'd cut-prices, revenue and manufacturing goals for Jaguar-Land Rover in China.
To get a much more in-depth look at generation in Slovakia click here to see Automotive News Europe's interactional assembly plant map.
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