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Jaguar Land Rover to Invest £3.75 Billion in 2016-17

Jaguar Land Rover to Invest £3.75 Billion in 2016-17

Snapshot: This will include the expansion of global production capacity, new technologies and new vehicles

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Jaguar Land Rover would invest £3.75 billion during the fiscal 2016/17 to support continued, sustainable, profitable growth in the future. This will include the expansion of global production capacity, new technologies and new vehicles, such as the Jaguar F-PACE and the Range Rover Evoque Convertible that will unleash the potential of both brands in the future. Both the aforementioned SUVs are scheduled to launch in India this year.

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Dr Ralf Speth, Jaguar Land Rover Chief Executive Officer, said:  "Jaguar Land Rover has produced and sold more cars than at any time in our history. We are now the largest automotive manufacturer in the United Kingdom and our vehicles have received more than 140 awards across the range for design, technology, safety and environmental sustainability. During this fiscal year, we have delivered sustainable, profitable growth and introduced new models - such as the Discovery Sport, Jaguar XE and XF - that have redefined their market segments. Furthermore, we are on track to deliver even more sensational products that will underpin the future performance of the business."

The British luxury marquee registered a sales growth of 13 percent as it sold 521,571 vehicles; breaking the half-million mark for the first time as the company continued to expand its product portfolio, with award-winning, innovative new models including the Land Rover Discovery Sport, Jaguar XE and XF. The combination of an increased demand for new models; solid growth in markets including Europe, North America and the UK helped support full-year financial revenues of £22.2 billion, up £342 million on the previous 12-month period. The company is planning to introduce two more all-new crossovers in the coming years, which are expected to position between the F-PACE.

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