Jaguar Land Rover, the British luxury car brand owned by Indian carmaker Tata Motors Ltd. is planning to set up a manufacturing facility in Brazil in the state of Rio de Janeiro. With the completion of the formalities, the luxury carmaker will become the first British automobile manufacturer to open build a production facility in Brazil.
Mr. Phil Hodgkinson Global Business Expansion Director of Jaguar Land Rover signed an agreement with Mr. Sergio Cabral State Governor of Rio de Janeiro to commence the setting up of new plant.
The move by the British automobile manufacturer is being touted as part of its strategy to expand its global manufacturing footprint and increase production capacity. The facility will cater to the auto markets in Brazil as well as other South American auto markets.
Dr. Ralf Speth CEO of Jaguar Land Rover commented that Brazil and the surrounding auto markets are important to the carmaker since it has high potential for premium products.
The construction of the new facility is set to commence by the mid of 2014 and the plant is expected to be operational by the year 2016.