Jaguar Land Rover plans to invest £11 billion in the following four years to increase capacity and add new products globally.
JLR will spend £2.75 billion annually in the following four years to boost production and add new products, but chief executive Ralf Speth said that the quick global expansion will not come at the expense of its interests in JLR’s British heartland.
“It is absolutely critical that we diversify production around the world, but to be absolutely clear, we have an absolute commitment to the UK and will continue to invest there as long as we have free and fair trade,” said Speth.
Currently, the automaker assembles the XF and Freelander models in India, prepares a joint venture with Chery in China and analyzes the possibilities in Saudi Arabia, where the automotive business expands rapidly. JLR has an advantage which will help the automaker in its expansion plan: the fact that the SUV market still sees booming sales.
“You have to invest in big amounts of seed in order to reap the harvest, which is what we are doing,” said Speth. “The amounts we are investing are very large, but I think we can keep that momentum.”