Land Rover agrees £2bn supply deals
Motor giant Jaguar Land Rover has announced over £2 billion worth of supply contracts to more than 40 companies in the UK for its new Evoque model, which is also set to create thousands of new jobs.
The company said the Evoque was the first of many new products it will launch in the next five years, which it predicted will generate billions of pounds in investment in the UK.
Around 1,500 new recruits are being taken on for the Evoque, which is being built at the Halewood plant on Merseyside.
Business Secretary Vince Cable toured the factory and met workers and new apprentices before visiting Merseyside-based component supplier International Automotive Components, one of the companies awarded a contract by Jaguar Land Rover.
Mr Cable said: "Jaguar Land Rover's news that it's awarding £2 billion worth of contracts to businesses in the UK to supply components for the Evoque shows that the UK automotive supply chain is capable of winning major contracts and creating vital jobs in the UK."
Jaguar Land Rover chief executive Dr Ralf Speth said: "Jaguar Land Rover is a key player within the UK economy. We are the largest investor in automotive research and development and engineering in this country and as today's announcement shows, we generate billions of pounds of economic activity here every year.
"Alongside the 1,500 new jobs created in Halewood to support the launch of the new Evoque, Jaguar Land Rover is investing in advanced research, design and technical innovation with key strategic partners which together with today's £2 billion of contract announcements will mean the creation of thousands more skilled jobs in the UK automotive supply chain.
"The billions being spent on Evoque is just the start, with 40 significant product actions coming over the next five years. This will mean a high level of investment by us in the future and represents a tremendous opportunity for UK suppliers to work in partnership with Jaguar Land Rover to really strengthen the supplier base in this country."
Companies supporting the launch of the Evoque are located throughout the UK, including International Automotive Components, Johnson Controls and Magna International on Merseyside, McKecknie and Kostal in Yorkshire and Sertec, Walsall Pressings and Kautex Unipart in the West Midlands.
Prime Minister David Cameron said: "This is great news and another example of the strength of UK manufacturing. Jaguar Land Rover's announcement has the potential to create thousands of jobs and opportunities around the country and is a real boost to the economy."