Land Rover announces massive investement in UK
Jaguar Land Rover the British auto manufacturer that is owned by the Indian automotive company Tata Group announced that it will invest 1,5 billion pounds in its UK based car business. The investment will open more than 1500 new workplaces in UK most of which will be based in Land Rover plant in Solihull, West Midlands. The working unions in UK have welcomed the news about the creation of new jobs. The UK’s Prime Minister, David Cameron, said that the investment was a ‘huge vote of confidence in the UK’ and sought to take some of the credit for the investment. He said that the government would ‘continue to back the automotive sector’
The new investment should be mostly seen as a triumph of the global economy – Land Rover which is a British company was saved from bankruptcy by an American corporation and then sold to the Indian Tata Group. Furthermore it is currently headed by a German CEO. Many of its engineers come from outside the European Union and work in the UK with Tier 2 skilled worker visas. It is currently thriving because of greatly increased sales around the world but particularly in China. It is a truly global story.
The Tata Group took over Jaguar Land Rover in 2008. Ford had bought Jaguar in 1989 after it had been demerged from the nationalised British car maker British Leyland in 1984. Ford then bought Land Rover, which had also been part of British Leyland, from BMW in 2000.
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