JLR Confirms Brazilian Factory

Tata Motor Ltd.'s Jaguar Land Rover unit confirms it will open a plant in Itatiaia, Brazil, in 2016 with annual capacity to assemble 24,000 vehicles.

Media reports about an impending deal began to surface in October. JLR says it will invest 750 million reais (€232 million) in the project by 2020.

The company, which controls more than half of Brazil's luxury SUV market, hasn't said which models will be assembled from kits there. JLR's best-selling vehicles in Brazil today are the Discovery, Evoque and Freelander SUVs.

JLR's rivals previously announced plans to avoid high import tariffs by launching local assembly in the country by 2016.