British luxury car manufacturer Jaguar Land Rover (JLR) is set to establish a new manufacturing plant in Itatiaia, Rio de Janeiro, Brazil.
This move by the company will see a total investment of BRL750m (GBP240m) by 2020. The company has signed an agreement with Rio de Janeiro Governor Sergio Cabral for the construction of the plant.
JLR's expansion into Brazil is the next major step in the company's strategy to increase its global manufacturing footprint and create additional capacity.
The new plant's construction will start in mid-2014 and the first vehicles will come off the assembly line in 2016. It will have a capacity to build 24,000 vehicles annually for the Brazilian market.
However, the plans are subject to the final approval from the Brazilian Federal Government under its Inovar-auto Programme.
Initial workforce at the new plant will be 400, which will double by the end of the decade. The plant will also generate additional jobs across the local supply chain network.
Jaguar Land Rover CEO Ralf Speth said: "This new programme will enable us to bring exciting new vehicles to them, with outstanding British design and engineering, creating a world-class Jaguar Land Rover facility incorporating leading premium manufacturing technologies."
Image: Jaguar Land Rover (JLR) will establish a new manufacturing plant in Brazil. Photo: courtesy of Jaguar Land Rover Limited.