Jaguar Land Rover to invest Rs 2400 crores in Brazil
Jaguar Land Rover will soon be the first British automaker to set up a full fledged manufacturing unit in Brazil. The company plans investment to the tune of Rs.4,600 in the new plant which is slated to offer enhanced growth opportunities in both Brazil and other South American markets.
Jaguar land Rover has had an extensive presence in Brazilian markets for over 20 years. The company sales office is situated in Sao Paulo, employing a total of 100 persons and have 35 company dealerships across Brazil. During the current year, the company sales have increased 40% to reach 9,549 units withÂ Range Rover Evoque, Freelander and Discovery being the most favored models.
Dr Ralf Speth, CEO of Jaguar Land Rover, said: â€śBrazil and the surrounding regions are very important. Customers there have an increasing appetite for highly capable premium products. â€śThis new programme will enable us to bring exciting new vehicles to them, with outstanding British design and engineering, creating a world-class Jaguar Land Rover facility incorporating leading premium manufacturing technologies. â€śWe have established excellent working relationships with the State of Rio de Janeiro, the City of Itatiaia & the Rio de Janeiro State Industrial Development Company and we look forward to attracting new customers to our business in this important market.â€ť
Sergio Cabral, Governor of Rio de Janeiro State commented: â€śThe choice of Rio de Janeiro to host the Jaguar Land Roverâ€™s new facility is another historic achievement for our state. We offer perfect conditions to JLR to install its plant in Brazil, as we have an automotive hub in the South Fluminense region that concentrates qualified labour and important suppliers. It is a privilege to welcome this great group, with an estimated investment of up to R$750 million and we are confident that this agreement will bring to Brazil extraordinary results.â€ť