Jaguar Land Rover "on the edge of major investment in the UK" as owner Tata Group holds talks with consultants
Francesca Washtell for the Daily Mail
Jaguar Land Rover is ready to invest hundreds of millions of pounds in UK plants as part of a drive towards electric cars, it was claimed last night.
The company is ready to pump money into a new battery plant near Birmingham and a motor factory in Wolverhampton that will build electricity transmission systems, according to the Daily Telegraph.
JLR has cut back thousands of jobs at the start of this year, but this important boost to the UK auto industry will create jobs and will guarantee to Wolverhampton.
The Indian conglomerate Tata owns 100% of JLR, which has car factories in Halewood, Merseyside and Solihull (pictured) and Bromwich Castle in the western Midlands
However, the news came amid contradictory claims that his Indian parent was evaluating options for JLR.
Reportedly, Tata Group will hold talks with consultants to assess whether it can sell a stake in the company or form a joint venture with a partner to cut costs.
It is believed that the company would be reluctant to sell outright.
Last night, JLR rejected reports as speculations. A Tata spokesperson said: "There is no truth about rumors that Tata Motors intends to sell its stake in JLR."
Tata Motors has recently recorded the largest quarterly loss in Indian business history of £ 3.4 billion, while the Chinese sales of JLR have plummeted.
And last month JLR said it would cut 4,500 jobs, with most coming from its 40,000-strong British workforce.
- Lord Bhattacharyya, credited with the former head of the persuasive Tata Ratan Tata to buy the Jaguar Land Rover in 2008, died at the age of 78.