Monday , August 8 2022

This year's investor is Jaguar Land Rover | Weekly TREND


The decision to Jaguar Land Rover (JLR) to build a new factory in Slovakia is one of the largest investments in the automotive industry in Europe in ten years. An investment of 1.4 billion euros for the British luxury car maker belonging to the Indian company Tata Motors is the key. It will provide new opportunities to meet global demand. It wants to be a strong global competitor with established premium brands.

In particular, suppliers have decided

Fabrika in Nitra Industrial Park has a production capacity of 150,000 vehicles per year. In total, it plans to rent fewer than 300 people in Slovakia in the first phase. Fabrika still produces only the Land Rover Discovery model, whose complete production will move from the British Isles to Slovakia in the next few months. The plan is also the second model that is the successor to the legendary SUV Defender.

JLR chose Slovakia in particular for a developed supplier network as well as the automotive industry with premium segment production. The state supported the construction of a factory in Nitra with an amount of EUR 125 million in the form of direct payments. For the construction of the industrial park, the government has given another approximately 500 million euros. It was more than just Kia in Žilina and PSA Citroën Peugeot in Trnava.

Heavy fall times

The opening of the new factory will be in a challenging period. The car saw a 13 percent drop in sales in the quarter, which ended in September and ended with a loss. The reason is primarily the trade war between the US and China. The problem is that while there is no Jaguar in China, BMW, Audi or Mercedes have seen growth there. In Europe, the interest in diesel-powered cars dominates the JLR portfolio. The car has only announced electrification of the portfolio since 2020. Neither the uncertainty that accompanies brexit does the group help.

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Investor of the Year 2018

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