LONDON (Reuters) -- Jaguar Land Rover says it is studying the possibility of opening a manufacturing plant in Brazil.
"A detailed feasibility study is underway to consider Brazil as a possible future location for a Jaguar Land Rover automotive facility," the company said in a statement on Wednesday, adding that "no final decisions have been made."
The company, owned by India's Tata Motors, added that it has ambitious plans to expand its manufacturing footprint and increase production in markets outside the UK, particularly in China and Brazil. Earlier on Wednesday Brazilian newspaper O Estado de S.Paulo reported that Land Rover was looking to invest around 270 million pounds ($431.72 million) in a facility to build SUVs in Rio de Janeiro state.
Last month the automaker told Automotive News Europe that it is seeking to hire managers with manufacturing experience in Brazil to help it assess the potential of a plant in the country.
The automaker said then that any decision will be influenced by the future tax rules regarding foreign automakers.
European rivals Audi and Mercedes-Benz have both announced plans to assemble cars in Brazil in the last few months and last year BMW confirmed plans to build a new plant there.
Automotive News Europe contributed to this report