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Land Rover commits £2.5 billion to new products

Land Rover is to invest £2.5 billion in the next five years in developing and building new vehicles and has announced it will build its next model, a new Land Rover Discovery due in 2005, at Solihull.

As part of the five-year plan, Land Rover announced a £200m investment in a new production line at Solihull. The new facilities which include a metal stamping plant, paint shop and final assembly line will see the production of the new Range Rover.

Land Rover chairman and chief executive officer Bob Dover said the decision had been made after a study of factories in Europe and North America. "Solihull provides the best business case to justify the level of investment and expected returns," he said. (December 11, 2001)

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