Jaguar Land Rover, a luxury vehicle manufacturer owned by Indian group Tata Motors, intends to shell out an investment of 200 million pounds or $324.08 million in a Castle Bromwich plant near Birmingham in central England, according to a report by the Daily Telegraph. The facility will manufacture the carmaker's latest F-type convertible sports vehicle. It is anticipated to generate as many as 1,000 jobs as well as boost its capacity by 50%, the paper revealed.
At present, the facility rolls out the XF, XK and XJ Jaguar models. The newspaper also reported that the automaker is seeking to commence the expansion of the facility quickly. The report did not cite sources.
The F-Type convertible seats two passengers. It is founded on the C-X16 concept vehicle initially revealed at the Frankfurt car show last year. It will be launched in the middle of 2013, the automaker disclosed at the New York vehicle show this year. Although pricing details have yet to be disclosed, the vehicle is anticipated to rival the Porsche Boxster, which costs 59,120 euros or $77,677 in Germany.
The F-Type will then be followed by a coupe variant in 2014, company sources revealed. According to Tata in August 2011, it will increase its yearly spending by 100% to 1.5 billion pounds or $2.4 billion on capital expenditure and product development at Jaguar Land Rover over five years to finance an extension, including a pipeline of 40 upgraded or new car models.