Tata owned Jaguar Land Rover to set up 200m pounds new F-type factory at Castle Bromwich

London, May 3: The Tata-owned Jaguar Land Rover (JLR) is planning to expand its plant at Castle Bromwich to build new Jaguar models.

The extensive brand overhaul is expected to create upto 1,000 jobs for local area workers.

JLR intends to invest around 200 million pounds on growth at the Castle Bromwich factory, which would build the new Jaguar F-Type sports car, the successor to the historic E-type, The Telegraph reports.

The new investment plans for the brand come just three years after the factory was about to shut down due to a sharp drop in sales.

Tata is set to start working on the expansion plan of the plant, which is seen as a boost for the coalition Government of UK, which is seeking to increase British exports and rebalance the economy.

To kickstart the growth of Jaguar, the company wants a convertible version of the F-Type to go on sale next year, followed by the launch of a coupe and is investing about 1.5 billion pounds a year on research and development.

Jaguar is planning to launch 40 new models or variants of new models in the next five years and has already hired thousands of staff across the UK since 2009. (ANI)