Jag ‘on the brink of major UK investment’
JAGUAR Land Lan Rover is poised to invest hundreds hund of millions of pounds into UK plants as part of a push towards toward electric cars, it was claimed last night.
The firm is set to pump cash into a new battery batte factory near Birmingham mingham and an an engine plant in Wolverhampton Wolverham that will make electric drive driv 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.
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 £3.4bn 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.