Tata Motors-owned luxury carmaker Jaguar Land Rover (JLR) on Thursday said it has signed a contract manufacturing agreement with Austrian automotive firm Magna Steyr in another step to enhance its worldwide production line and build global footprint.
Magna Steyr, an operating unit of Magna International Inc, will build some future JLR vehicles in Graz, Austria, under the latest collaboration, aimed at creating additional volumes needed to support the company's plans to achieve further growth.
"The UK remains at the centre of our design, engineering and manufacturing capabilities. Partnerships such as this will complement our UK operations and engineering," JLR CEO Ralf Speth said in a statement.
"Today marks another step in building our global footprint. This agreement will allow us to expand our award- winning model range as customers around the world demand ever- more innovative vehicles from Jaguar Land Rover," he said.
Over the past five years, as part of the Tata Group, JLR has doubled sales to more than 4,62,000 vehicles, doubled employment to over 35,000 people and invested more than 10 billion pounds in new product creation and capital expenditure.
The company has also invested in its UK vehicle manufacturing facilities at Castle Bromwich, Halewood and Solihull in the West Midlands region of England to support the introduction of 10 new vehicles, including the Jaguar XE, Jaguar F-TYPE, Range Rover Evoque and Land Rover Discovery Sport.
"The signing of this contract with Jaguar Land Rover reflects the trust in our capability and heritage as a vehicle contract manufacturer," said Gunther Apfalter, president of Magna Steyr and Magna International Europe, which claims nearly 100 years' experience in contract manufacturing.
"The partnership with Jaguar Land Rover brings a new customer to our Graz plant. As always, we will work with our fullest commitment and dedication to ensure that we meet our customer's high expectations," he said.
JLR is also strengthening its international manufacturing presence with the opening of its joint venture factory in China and the ongoing construction of its new plant in Brazil.
The expansion of its international manufacturing operations allows the iconic British car brands to develop an increasingly flexible, agile and efficient global manufacturing strategy, the firm claimed.
Tata Motors had acquired a struggling JLR from Ford back in 2008 and has since transformed its global sales figures.