Jaguar Land Rover studying full production in India: sources
- IPL spot-fixing case: Actor Vindoo Dara Singh arrested in Mumbai
- Supreme Court rules out ban on IPL matches, slams BCCI over spot-fixing
- Li Keqiang pitches for more Chinese investments as he backs trade balance
- Narendra Modi holds talks with Advani ahead of BJP's strategy meeting in Delhi
- Aarushi murder case: HC rejects Talwars' plea to examine 14 witnesses
Jaguar Land Rover (JLR) is investigating the potential of manufacturing cars in India, company sources said, as the British luxury carmaker looks to build on its growth in emerging markets with the help of Indian parent Tata Motors.
JLR, which has ridden a wave of surging demand in China and other emerging markets to post record profits over the past year, is "actively exploring the possibility" of building cars from scratch in India, said one company source.
"The idea is being looked into, with the (Jaguar) XF and (Land Rover) Freelander the obvious candidates," said another source with knowledge of the matter.
The British brands, which already assemble two models in India using parts and engines shipped from factories in the UK, will also begin assembling its popular Range Rover Evoque in the country soon, the first source said without providing details.
Building cars in India, which has developed into an emerging market export hub for many global carmakers, would allow JLR to skirt high import taxes on luxury cars, which the country's finance minister proposed raising to 100 percent from 75 percent in his budget speech last week.
"Jaguar Land Rover has ambitious plans to expand its manufacturing footprint and increase production in markets outside Britain," Del Sehmar, a Mumbai-based spokesman for the company, told Reuters. "We continue to examine options to expand our range of locally assembled products," he said, referring to India.
JLR will exhibit a new 9-speed automatic Evoque and an electric-powered version of its Land Rover Defender at the Geneva Motor Show next week.
Bought by Tata for $2.3 billion from Ford in 2008, JLR has defied those sceptical of its future under Indian ownership to roar back into profit over the past three years as the main growth driver for its now-struggling parent.
- 'Sophisticated' Indian cyberattacks targeted Pak military sites: Report
- Talkative Li quoted Weber, Hegel, Jobs, said PM is large-hearted
- Bihar food corp ends up with chaff as rice worth Rs 535 cr vanishes from mills
- In 7 lucrative minutes on May 9, Sreesanth bowled 6 balls, bookie made Rs 2.5 cr
- India and China ask border envoys to work on more steps
- Former Ranji player among 3 more held