“Brazil and the surrounding regions are very important,” Jaguar Land Rover CEO Dr. Ralf Speth said in a statement. “Customers there have an increasing appetite for highly capable premium products.”
Jaguar Land Rover is to become the first British automaker to build cars in Brazil following a landmark agreement between the company and state authorities. Jaguar Land Rover’s plant will be located in the city of Itatiaia and be operational by 2016. About 400 people will work at the plant initially, building around 24,000 vehicles annually.
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. This new plant will play an important role in supporting the significant growth opportunities in not only Brazil but in several other South American markets. Jaguar Land Rover has already confirmed plans to build plants in China and is also accessing whether to build a plant in Saudi Arabia.
Jaguar Land Rover didn’t mention what vehicle(s) will be manufactured at the Brazilian plant but did state that £240 million (approximately $392.7 million) will be invested at the site by the end of the decade.