Jaguar Land Rover will boost spending with UK suppliers
LONDON (Reuters) – Jaguar Land Rover will spend an additional 1 billion pounds ($1.62 billion) with UK suppliers over the next four years, the company said, as strong global demand for its Range Rover Evoque premium compact SUV continues.
JLR, owned by India's Tata Motors, said it would spend the additional amount on top of supply contracts worth 2 billion pounds signed in March 2011 with British suppliers.
The company will also open a new logistics plant this summer in Ellesmere Port, England, which will create about 300 jobs, it said on Friday.
JLR has sold more than 60,000 Evoques worldwide since its launch in September 2011.
Last year the company said it would spend 355 million pounds to build a new engine plant in central England, creating 750 new jobs.
In a separate announcement last year, JLR committed to spending 1.5 billion pounds a year on product development over the next five years.
Automotive News Europe contributed to this storyContact Automotive News