3.70 (1.04%) Tata Motors’ subsidiary Jaguar Land Rover plans to open a new manufacturing facility in Brazil following a landmark agreement between the company and state authorities to build a plant in the state of Rio de Janeiro. Jaguar Land Rover’s planned expansion into Brazil is the next major step in the company’s strategy to increase its global manufacturing footprint and create additional capacity.
The construction of the premium manufacturing facility will commence in mid-2014. Based in the city of Itatiaia, the new programme represents a total investment of Brazilian Real 750m (£240m) by 2020. It is anticipated that the first vehicles will come off the assembly line in 2016, subject to the final approval of the plans from the Brazilian Federal Government under its Inovar-auto Programme. The new plant will have a capacity to build 24,000 vehicles annually for the Brazilian market.
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.