Tata Motors-owned Jaguar Land Rover will invest £800 million (over Rs 6,200 crore) on developing eco-friendly products as part of a decade-long new business plan, which will also see the company shutting one of its plants in t he UK. The new business plan is designed to increase its global competitiveness, drive growth and sustain profitability and respond to the challenges of climate change. This will in part be supported by the European Investment Bank's funds.
Also, one of the two plants in West Midlands would be shut and the workforce would be transferred to the other as part of strategy to streamline and become cost competitive. There will not be any job loss as the workers will be transferred to the other facility. By the first half of next year JLR would be able to finalise which one of the West Midlands plant would be shut.
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