Thursday , June 17 2021

The investor of the year is Jaguar Land Rover | Weekly TREND

The decision by Jaguar Land Rover (JLR) to build a new factory in Slovakia is one of the largest car industry investments in Europe in ten years. A $ 1.4 billion investment for a British luxury car manufacturer, which belongs to Tata Motors in India, is key. It offers new talents to meet global demand. It wants to become a strong global competitor with established premium brands.

Reporters have decided in particular

Fabrik, a factory in Nitra, has a production capacity of 150,000 vehicles a year. All in all, it plans to hire less than 300 people in Slovakia in the first phase. The factory continues to produce only the Land Rover Discovery model, whose full production will move from British islands to Slovakia in the coming months. The plan is also another model that is the successor to the legendary SUV Defender.

In particular, JLR chose an advanced supplier network for Slovakia and the automotive industry with premium segment production. The state subsidized the construction of the Nitra factory for EUR 125 million in the form of direct investment aid. To build the industrial park, the government has given another about 500 million euros. It was more than just Kia in Žilina and PSA Citroën Peugeot in Trnava.

Heavy Fall Times

Opening up a new plant will be challenging. The car saw in September 13% dropped sales at the end of September and ended at a loss. The reason is mainly the US-China trade war. The problem is that although there is no Jaguar in China, BMW, Audi or Mercedes have seen growth there. In Europe, the JLR portfolio is dominated by the interest of diesel-powered cars. The car has only announced electricity from electricity generation since 2020. The uncertainty that comes with the brexit does not help the group.

Read the entire TREND subscription

This article is part of the premium TREND content, reads it by subscribing for more less than $ 1.90 per week. If you are already a subscriber, log in here.

NOW NEW: Open the article within a few seconds with a text message acquisition Weekly order for TREND Digital for $ 1.90. *

Order Order 1.90 €

You will find an offer on the options and advantages of TRENDU subscriptions.

Choose an order of 4.45 €

* TREND Digital's weekly subscription with SMS is repeated every seven days and can be canceled at any time. For more information, please see our Terms of Service.

Source link