Jaguar Land Rover to invest Rs 2400 crores in Brazil
JLR plans to invest Rs 2,411 crores (R$750m, £240m) in a new plant in Brazil and have already reached an agreement with state authorities to set up this plant in Rio de Janeiro. The upcoming new plant will have an annual production capacity of around 24,000 units while it will offer employment to 400 persons besides generating additional jobs via the supply chain. Set to commence construction immediately, the new plant should be complete in record time so that first vehicles come off production lines by 2016.
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 with Range Rover Evoque, Freelander and Discovery being the most favored models.
Dr Ralf Speth, CEO of Jaguar Land Rover, said: “Brazil and the surrounding regions are very important. Customers there have an increasing appetite for highly capable premium products. “This 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. “We 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.”
Sergio Cabral, Governor of Rio de Janeiro State commented: “The choice of Rio de Janeiro to host the Jaguar Land Rover’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.”