In a major boost to the British economy, which is riddled with uncertainty caused by the eurozone crisis, the premium car maker said the jobs will support plans to launch 40 new products over the next five years.
The expansion will mean JLR employs more than 21,000 staff in the Midlands and Merseyside, and it is also planning to build a new engine plant near Wolverhampton that will create further jobs.
JLR, owned by Indian conglomerate Tata, was forced to ask the Government for financial support in 2009 as automotive sales tumbled. However, it has enjoyed an extraordinary turnaround in fortunes since then thanks to rapidly growing sales in emerging markets. The company posted pre-tax profits of £1.1bn in the year to March 31 and is investing more than £1bn a year into research and development.
Vince Cable, the Business Secretary, said: “This is fantastic news for Solihull that JLR is recruiting more than 1,000 jobs. This is a positive story of growth for the plant that was once under threat of closure. It is now expanding and has ambitious product plans.”
JLR’s Solihull plant produces the Range Rover, Range Rover Sport, Defender and Discovery, but it will also manufacture new Land Rover models over the next few years. The new jobs will increase the plant’s workforce by 25% to around 5000 workers,
Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders, said: “It is excellent news for UK automotive and demonstrates the commitment of global investors to the UK, drawing on the high level of skills held by the workforce here”.
[Source: The Telegraph]
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