LONDON (Brand Republic) – American motor giant Ford is plans to invest between £400m and £500m a year in the development of the Land Rover brand and has announced a further £130m cash injection into the Land Rover factory in Solihull.
Ford has committed to transforming Land Rover, which it bought from BMW two months ago, into a profit-making subsidiary by 2002. The company has also announced plans to increase exports into the US and Japan.
The £130m that is being sunk into the site at Solihull is expected to go towards a new car-parts pressing plant. The factory’s assembly line is to be upgraded to accommodate the new “super Range Rover”.
News of the investment comes just days after the launch of a £5m ad campaign for the Land Rover Freelander.
When Ford’s takeover of Land Rover was first announced, it was anticipated that a significant number of jobs would be cut. However, Land Rover currently employs 13,000 people and the number of job losses is expected to be as low as 500 over a period of time.