Luxury carmaker Jaguar is buying into $2.4 billion (Rs 15,312 crore) in a new range of lightweight aluminium sports sedans and crossover SUVs directed at the mass market, conceiving 1,700 jobs in Britain.
The expending is part of a move to launch more inexpensive forms from 2015 to emulate the achievement of smaller cost luxury vehicles made by sister business Land Rover, and will better place it to compete with German rivals BMW, Mercedes and Audi.
Jaguar, part of the Jaguar Land Rover (JLR) owned by Tata Motors, said the investment could create a further 24,000 in supply string of links occupations.
Car makers around the world are expanding into so-called premium “crossover” vehicles, seeking to tap demand for forms that blend the functionality of games utility vehicles (SUVs) with the solace and presentation of luxury vehicles.
Jaguar said money would be spent to design systems to help it introduce new one-piece “aluminium vehicle architecture”.
“The inherent flexibility of this all-new technology will enable Jaguar Land Rover to not only enter but aggressively compete in exciting new segments, creating new markets for both brands,” JLR’s chief executive Ralf Speth said.
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