Jaguar Land Rover poised to land £1billion ‘deal in the desert’ which will see luxury marques built in Saudi Arabia for first time.
Jaguar and Land Rover vehicles could soon be built in oil-rich Saudi Arabia as Middle Eastern demand for the luxury British-made vehicles grows.
The £1bn plan follows Jaguar Land Rover sales in the Middle East and North Africa increasing by more than 9per cent to 11,418 vehicles this year.
The move forms part of the car company’s global expansion strategy that recently saw it complete a £1bn deal to build its vehicles in China.
One of the biggest car manufacturers in the UK, Jaguar Land Rover, owned by India-based Tata Motors, also plans to create an additional 4,500 production and manufacturing jobs in the UK over the next five years.
aguar Land Rover chief executive Dr Speth said: ‘We are committed to further international partnerships to meet record demand for our highly sought after vehicles.
‘The Kingdom of Saudi Arabia is an attractive potential development option, complementing our existing advanced facilities in Britain and recent manufacturing plans to expand in other countries including India and China.’
Subject to a feasibility study, production could get underway within five years, with a letter of intent expected to be signed today with the Saudi Government in Riyadh.