British car manufacturer invests big money in Eastern European factory
The Jaguar Land Rover car company has recently announced a major financial investment in its latest factory, this time in the Eastern European region.
The new facility, which will measure an estimated 3,2 million square feet (approximately 297.289 square meters) will be built in the town of Nitra (Slovakia). According to data, the factory will be used to manufacture the company’s latest range of lightweight aluminum vehicles.
Major investment for Jaguar Land Rover
British car company representatives have announced they will invest 1 billion GBP into the Nitra facility. This is a turning point for Jaguar Land Rover, as this is the company’s first factory in the Eastern European region. Even more, on the local British market, Jaguar Land Rover will invest 100 million GBP into its Birmingham base.
A ‘global business’
The new factory in Slovakia represents an important step for the British vehicle manufacturer, as it’s set to penetrate another market. This being said, the company’s Chief Executive, Ralph Speth gave this statement: ‘The start of construction in Slovakia represents the beginning of a new phase in our plan to create a truly global business’. Along with international recognition, this recent move is supposed to support the company’s existing factories in the UK, China, Brazil and India. The Nitra plant will use automated processes in the paint department, along with water saving and heat recovery technologies.
Good production numbers and high interest
Once completed, the factory should be able to roll out an estimated 150.000 vehicles by the end of 2018. Until now, more than 40.000 people have expressed interest to work there. However, the factory will only be able to handle a staff of 2.800 once fully operational.
More about Jaguar Land Rover
The British multinational automotive company, Jaguar Land Rover Limited was founded in 2008 as a subsidiary of Indian automaker Tata Motors. The company produces and sells luxury and off-road vehicles.
