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JLR to Build €324 Million Factory in Brazil
Tata Motor Ltd.'s Jaguar Land Rover unit is ready to invest about 1 billion reais (€324 million) to erect an assembly plant in Itatiaia, Brazil, government sources tell Reuters.
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Tata Motor Ltd.'s Jaguar Land Rover unit is ready to invest about 1 billion reais (€324 million) to erect an assembly plant in Itatiaia, Brazil, government sources tell Reuters.
They say the factory, located in the state of Rio de Janeiro, could begin operations as early as 2015.
JLR confirms it has been in discussions in Brazil but declines to comment on details. Last month the Financial Times said the facility will have capacity to assemble about 10,000 vehicles per year, initially in the form of kits shipped from the U.K.
JLR's sales in Brazil are up 40% this year and are likely to surpass 10,000 units for the full year. Land Rover SUVs account for more than 90% of the company's current volume there.
Foreign carmakers have been rushing to establish local production to avoid import tariffs as high as 55% on imported vehicles.
In Brazil JLR currently outsells Audi and BMW, both of whom have announced plans to open local assembly operations in the country within the next two years. Daimler also is expected to open a factory in Brazil.
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