Skip to content
Search

Latest Stories

Jaguar Land Rover plans new UK investment

INDIA’S Tata owned Jaguar Land Rover (JLR) is on its way to invest a huge sum in advanced manufacturing in the UK. 

Quoting the sources close to the auto giant and the UK government, BBC reported that new investment in Britain was imminent.  


JLR is expected to make a formal announcement on its new investment later this month, the broadcaster added

The British government hopes that the new investment will confirm the UK still has a major role to play in JLR’s move to electric vehicles despite some existing model production being moved to Slovakia.

Earlier this year, JLR unveiled its strategy to axe 4,500 jobs in the next 24 months amid declining demand for diesel engines which presently power 90 per cent of its range. 

The company has also witnessed a fall in demand for cars in China, its most profitable market. 

The auto maker has also plans to pump hundreds of millions pounds into the UK plants as part of its strategy to electrify its range of cars.

JLR chief executive Ralf Speth has recently stated that by 2020 all of its vehicle models will be available with some form of electric power.

The new investment will move into building a new battery assembly plant at Hams Hall, near Birmingham, and setting up its existing engine plant in Wolverhampton to make electric drive systems.

As part of its future strategy, JLR wants the Hams Hall plant to be operational and to be producing its own electric vehicles by 2020.

Further investment is expected to come with the preparation for a revamped Range Rover at Solihull, after JLR shifted its Discovery model production from the plant to its new site in Slovakia in 2018.

Ian Henry of AutoAnalysis said: “Putting a figure on how much JLR is going to spend is almost impossible without knowing the detail. However, as a comparison Toyota just spent £240m into retooling its UK plant so it could make the Corolla - a smaller and less complex car. I’d expect investment for an all-new Range Rover, for example, to be a lot higher.”

The UK auto industry is expected to get a big push from the upcoming latest investment when the British auto industry has been in a series of bad news in recent days. 

The auto maker has also taken steps to strengthen its relations with its dealer network in China as part of its efforts to expand and strengthen its auto business further. 

According to the UK’s Society of Motor Manufacturers and Traders (SMMT) the sales of UK manufactured cars declined 72 per cent in the last month when compared to the same period last year but sources at JLR said there were "green shoots of recovery" in the Chinese car market.  

More For You

OpenAI Restricts ChatGPT’s Image Feature After Viral Ghibli Trend

Altman addressed the impact of the popular Ghibli-style image trend on OpenAI’s resources

Getty

OpenAI limits ChatGPT’s image generation feature amid viral Ghibli image trend

OpenAI CEO Sam Altman has announced temporary limitations on the company’s image generation feature in response to overwhelming demand driven by a viral trend. On Thursday, Altman addressed the impact of the popular Ghibli-style image trend on OpenAI’s resources, particularly its reliance on GPUs (graphics processing units). Altman revealed that the surge in demand for ChatGPT’s image generation tool has led to significant strain on the company’s infrastructure, prompting the introduction of temporary speed limits for users.

In a post on X (formerly Twitter), Altman shared the company’s response to the unexpected demand, stating, “It’s super fun seeing people love images in ChatGPT, but our GPUs are melting. We are going to temporarily introduce some rate limits while we work on making it more efficient. Hopefully won’t be long! ChatGPT free tier will get 3 generations per day soon.”

Keep ReadingShow less
UK-business-district-Getty
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)

Economic growth in 2024 slightly higher than estimated: ONS

THE UK economy grew slightly more than first estimated in 2024, according to official data released on Friday, providing a small boost for the government after it revised down its growth forecast for 2025.

The Office for National Statistics (ONS) said gross domestic product expanded by 1.1 per cent in 2024, up from an initial estimate of 0.9 per cent.

Keep ReadingShow less
Sri Lanka posts five per cent GDP growth as it ends years of economic decline

Sri Lanka's president Anura Kumara Dissanayake

Sri Lanka posts five per cent GDP growth as it ends years of economic decline

CASH-STRAPPED Sri Lanka’s economy grew by five per cent in 2024, marking the first full year of expansion since its unprecedented meltdown in 2022, official data showed last Tuesday (18).

The last quarter of 2024 saw the economy expand by 5.4 per cent, bringing the full calendar year’s GDP growth to five per cent, compared to a contraction of 2.3 per cent in 2023.

Keep ReadingShow less
Donald Trump

Speaking from the Oval Office, Trump said, 'What we’re going to be doing is a 25 per cent tariff on all cars that are not made in the US.'

Getty Images

Trump imposes 25 per cent tariffs on foreign-built cars

US president Donald Trump has announced a 25 per cent tariff on imported cars and auto parts, escalating trade tensions with key partners.

The new duties take effect on 3 April and apply to foreign-made cars and light trucks, with additional levies on key auto parts set to follow within the month.

Keep ReadingShow less
Starmer-Trump-Getty

The UK is negotiating a tech-focused trade deal with the US, which could help avoid direct tariff impacts.

Getty Images

UK economy faces pressure from Trump’s tariff threats

THE UK’s economy faces a major risk from US president Donald Trump’s proposed tariffs, the country’s fiscal watchdog warned on Wednesday, citing slow growth and a high debt burden as key vulnerabilities.

Chancellor Rachel Reeves announced cuts to the welfare budget and other spending reductions to meet a key fiscal target aimed at reassuring investors after the 2022 market turmoil under former prime minister Liz Truss.

Keep ReadingShow less