West Midlands based car manufacturer, Jaguar Land Rover, said today it is going to build a new factory in Brazil. It will produce up to 24,000 cars for the Brazilian and South American market.
The factory will be based at Itatiaia in the state of Rio de Janeiro.
The company has sold almost 10,000 cars in Brazil this year. The most popular models are the Freelander and the Discovery which are made at Solihull and the Range Rover Evoque, which is made at Halewood on Merseyside.
The cars produced at the Brazilian factory will be in addition to the cars being produced at the firm's UK plants.
The new factory will cost £240million to build and will employ 400 people.
Jaguar Land Rover says the project is part of its strategy to sell more cars around the world and expand into emerging markets.
Dr Ralf Speth, Chief Executive Officer of Jaguar Land Rover said:
Brazil and the surrounding regions are very important. Customers there have an increasing appetite for highly capable premium products.
This new programme will enable us to bring exciting new vehicles to them, with outstanding British design and engineering, creating a world-class Jaguar Land Rover facility incorporating leading premium manufacturing technologies.
We have established excellent working relationships with the State of Rio de Janeiro, the City of Itatiaia & the Rio de Janeiro State Industrial Development Company and we look forward to attracting new customers to our business in this important market.
The announcement comes as the company receives excellent reviews on the Jaguar F-Type. It has been named Top Gear Magazine's 'Convertible of the Year' among a host of other awards and positive reviews.