CAR manufacturer Jaguar Land Rover has handed out more than £2bn in supply contracts under new plans revealed yesterday.
Owned by Indian carmaker Tata Motors, the company has signed deals with more than 40 British suppliers in order to produce its new Range Rover Evoque vehicle.
The move will create thousands of jobs, which will be viewed as a vote of confidence in Britain.
Prime minister David Cameron said: “This is great news and another example of the strength of UK manufacturing. Jaguar Land Rover’s announcement today has the potential to create thousands of jobs and opportunities around the country and is a real boost to the economy.”
The deal represents half the value of global components contracts handed out by the motor giant on Wednesday.
Jaguar Land Rover’s new Evoque will be the first of a number of new products it will launch in the next five years, which could generate billions of pounds of investment in the UK the firm said. Around 1,500 new jobs are being created in order to produce the car, which will be the company’s smallest and most fuel efficient Range Rover to date.
Jaguar Land Rover chief executive Ralf Speth said: “This will mean a high level of investment by us in the future.”