Jaguar Land Rover eyes Brazil expansion: FT
Tata Motors is in talks with Brazilian authorities about setting up a plant to assemble Jaguar Land Rover's (JLR) Freelander four-by-fours, the Financial Times reported on Monday.
July 16, 2012 / 13:06 IST
Tata Motors is in talks with Brazilian authorities about setting up a plant to assemble Jaguar Land Rover's (JLR) Freelander four-by-fours, the Financial Times reported on Monday.
Once assured that it can produce cars in sufficient volume, Jaguar Land Rover will then look at setting up a plant in Brazil, which is on track to become the world's third-biggest car market, the FT said."We thought about setting up a plant or assembly line, but you need a critical mass of volume. Therefore, we are talking to government about how this kind of step can be made for a small company like us," the FT quoted JLR chief executive, Ralf Speth, as saying.The British luxury brand, which Tata bought for USD 2.3 billion in 2008, produces the bulk of its cars at three plants in England.JLR's growth in overseas markets has helped insulate Tata from a sluggish domestic car market which grew just 2.2% in the last financial year. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
