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Bloomberg
Jaguar Land Rover opened a factory in Brazil as part of efforts to increase local sourcing of components and reduce the impact of currency fluctuations on its profits.
The plant is the company’s first wholly owned facility outside its home market of the U.K. and will produce the Discovery Sport and Range Rover Evoque sport utility vehicles for sale across Brazil this month, according to an e-mailed statement.
The luxury unit of India’s Tata Motors Ltd. will buy parts such as seats, chassis and powertrain assembly from local suppliers in Brazil for the factory. The automaker’s sales in Brazil rose 11 percent in the first five months.
Jaguar Land Rover has been the main profit contributor for parent Tata Motors, recording a 56 percent increase in net income to 472 million pounds ($667 million) for the three months ended on March 31.