British luxury carmaker Jaguar Land Rover announced yesterday it was studying the possibility of opening a manufacturing plant in Brazil. The South American country is considerably growing in importance among the premium manufacturers.
The company, owned by India’s Tata Motors, added that it has ambitious plans to expand its manufacturing footprint and increase production in markets outside of Britain, particularly in China and Brazil. This comes almost immediately after the parent company reported its first quarterly profits in a while, due to high revenue from the British unit.
“A detailed feasibility study is underway to consider Brazil as a possible future location for a Jaguar Land Rover automotive facility,” the company said in a statement sent to Reuters on Wednesday, adding, “no final decisions have been made.”
Earlier on Wednesday Brazilian newspaper O Estado de S.Paulo reported that Land Rover was looking to invest around 270 million pounds ($431.72 million) in a facility to build SUVs in Rio de Janeiro state.