Saudi FM calls Indian, Pakistani counterparts to discuss developments    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Alkhorayef praises advancements in Al-Kharj food industries sector    MHRSD: 80% of recruitment offices are non-compliant with regulations    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Jaguar to invest $2.4bn in making mass-market SUVs
Published in The Saudi Gazette on 11 - 09 - 2013

LONDON – Luxury carmaker Jaguar said it would invest $2.4 billion in a new range of lightweight aluminum sports sedans and crossover SUVs aimed at the mass market, creating 1,700 jobs to a British economy showing signs of resilience.
The spending is part of a move to launch more affordable models from 2015 to emulate the success of lower cost luxury vehicles made by its sister company Land Rover, and will better position it to compete with its larger German rivals.
Jaguar, part of the Jaguar Land Rover (JLR) group owned by India's Tata Motors, said the investment could create a further 24,000 in supply chain jobs.
“The creation of 1,700 new jobs and £1.5bn investment by Jaguar Land Rover is a great vote of confidence in the UK economy,” British Prime Minister David Cameron said on Twitter.
British car sales rose by 11 percent in August, the 18th consecutive month of growth, in contrast to Germany, France, Italy and Spain, which all suffered sales declines.
JLR has roared to health in the four years since Tata Motors bought the group from Ford for $2.3 billion.
It has escaped the cycle of plant shutdowns and falling production at many European automakers by tapping into growing demand for luxury cars in emerging markets. Also on Tuesday, Jaguar Land Rover said August sales rose 28 percent from a year earlier to 27,852 vehicles.
Carmakers around the world are expanding into so-called premium “crossover” vehicles, seeking to tap demand for models that combine the functionality of sport utility vehicles (SUVs) with the comfort and performance of luxury cars. Nearly one in every four premium vehicles sold last year in Europe was a crossover or SUV, and the category continues to grow, despite concerns about size and fuel consumption, according to UK-based consultancy LMC Automotive. Jaguar's new models will compete directly with the likes of Germany's BMW and Daimler's Mercedes-Benz which dominate the market for entry-level luxury vehicles.
The new models will be built on production lines previously used to make Land Rover vehicles at JLR's plant in Solihull, central England, where some 1,700 new jobs will be created. A Jaguar sports sedan, due to be launched in 2015, will be the first to feature the new technology. It will also be the first car to use engines from JLR's new engine plant in nearby Wolverhampton.
Next up will be Jaguar's first ever sports crossover vehicle, called the C-X17, also featuring an aluminum frame, which is being showcased at the Frankfurt car show this week.
“The inherent flexibility of this all-new technology will enable the Jaguar Land Rover business to not only enter but aggressively compete in exciting new segments, creating new markets for both brands,” JLR's Chief Executive Ralf Speth said. — Reuters


Clic here to read the story from its source.