Jaguar Land Rover ‘on the brink of major UK investment’ as owner Tata Group holds talks with advisers
Jaguar Land Rover is poised to invest hundreds of millions of pounds into UK plants as part of a push towards electric cars, it was claimed last night.
The firm is set to pump cash into a new battery factory near Birmingham and an engine plant in Wolverhampton that will make electric drive systems, The Daily Telegraph reported.
JLR slashed thousands of jobs earlier this year, but this major boost to the UK car industry will create jobs and guarantee those at Wolverhampton.
Indian conglomerate Tata owns 100 per cent of JLR, which has car plants in Halewood on Merseyside and Solihull (pictured) and Castle Bromwich in the West Midlands
However, the news came amid conflicting claims that its Indian parent was considering options for JLR.
Tata Group is reportedly holding talks with advisers to explore whether it could sell a stake in the firm or form a joint venture with a partner to cut costs.
It is thought the firm would be reluctant to sell outright.
Last night, JLR dismissed the reports as speculation. A Tata spokesman said: ‘There is no truth to the rumours that Tata Motors is looking to divest its stake in JLR.’
Tata Motors recently posted the biggest quarterly loss in Indian corporate history of £3.4billion as JLR’s Chinese sales slumped.
And last month JLR said it would cut 4,500 jobs, with most coming from its 40,000-strong UK workforce.
- Lord Bhattacharyya, credited with convincing former Tata boss Ratan Tata to buy Jaguar Land Rover in 2008, has died at 78.