Mexican Media Brands
JLR Aims To Cut Costs £4.5 Billion by 2020
Jaguar Land Rover Ltd. intends to reduce its costs by £4.5 billion ($6.8 billion) in five years, says the U.K.’s Sunday Times.
#economics
Share
Jaguar Land Rover Ltd. intends to reduce its costs by £4.5 billion ($6.8 billion) in five years, says the U.K.’s Sunday Times.
The plan, dubbed Leap 4.5, involves limiting new hires, streamlining the company’s supply chain and increasing platform sharing for future models. The report says the scheme does not involve any layoffs.
The Sunday Times says the plan also sets a new global sales target of 1 million vehicles by 2020. JLR previously said it was targeting sales of 828,500 units by then.
The cost-cutting initiative will enable JRL to reduce its annual capital spending on research and new factories by £3 billion ($4.5 billion), according to the newspaper.
It isn’t clear whether Leap 4.5 will affect the company’s plans to open an assembly operation in Brazil next year and build a factory plant in Nitra, Slovakia. JLR signed a letter of intent in August for the latter project and indicated it would make a final decision by the end of 2015.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.