-0.45 (-0.14%) Tata Motors’ British-based arm Jaguar Land Rover (JLR) has entered into a manufacturing partnership with Magna Steyr, an operating unit of Magna International Inc, to build some future vehicles in Graz, Austria. With plans already in place to take JLR’s three vehicle manufacturing plants in the UK close to their operating capacity, the collaboration with Magna Steyr will create additional volumes needed to support the company's plans to achieve further growth.
The expansion of its international manufacturing operations allows the iconic British car brands to develop an increasingly flexible, agile and efficient global manufacturing strategy. Over the past five years, JLR has doubled sales to more than 462,000 vehicles, doubled employment to over 35,000 people and invested more than 10 billion pounds in new product creation and capital expenditure.
Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.