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<a href="http://www.businessinsider.in/BREXIT-impact-on-India/articleshow/52895133.cms">Brexit</a> has happened, impacting <a href="http://www.businessinsider.in/brexit-impact-global-economy/articleshow/52899336.cms">global economy</a> and businesses world over, but <a href="http://www.businessinsider.in/tata-sons-uk-after-brexit/articleshow/52901882.cms">Tata Motors</a>-owned <keyword id="6354362" type="CITY" weightage="100" keywordseo="Jaguar-Land-Rover">Jaguar Land Rover</keyword> has said that it’s "business as usual" for them, and that they are ready to manage the long-term effects of the <a href="http://www.businessinsider.in/Britains-relations-with-EU/articleshow/52897467.cms">decision</a>. It added that "nothing will change" overnight, neither for the company itself nor for the automotive industry. 
 
"For Jaguar Land Rover, today is just business as usual. We are a British business with a strong manufacturing base in this country, we call Britain home and we remain committed to all our manufacturing sites and investment decisions," said a JLR statement. 
 
Also read: <a href="http://www.businessinsider.in/Sensex-and-Nifty-recover/articleshow/52901378.cms">Sensex and Nifty see mild recovery amidst global markets’ hara-kiri</a> 
 
"We respect the views of the British people and in line with all other businesses, Jaguar Land Rover will manage the long-term impact and implications of this decision: nothing will change for us, or the automotive industry, overnight," it added. 
 
The company termed Europe as a marker of significant strategic importance, which comprises of 20% of its global sales. 
 
"We remain absolutely committed to our customers in the EU. There will be a significant negotiating period and we look forward to understanding more about that as details emerge," a spokesperson from JLR said. 
 
<a href="http://static.independent.co.uk/s3fs-public/thumbnails/image/2015/01/12/09/Jaguar-Land-Rover.jpg">Image source</a>

Jaguar Land Rover calls Brexit day ‘business as usual’

<keyword id="224588" type="PERSON" weightage="100" keywordseo="Ralf-Speth">Ralf Speth</keyword>, the chief of Tatas-owned <keyword id="6354362" type="CITY" weightage="100" keywordseo="Jaguar-Land-Rover">Jaguar Land Rover</keyword> (<keyword id="45218" type="ORGANIZATION" weightage="100" keywordseo="JLR">JLR</keyword>), has expressed disappointment over the ban that Supreme Court of India imposed on 2000cc and above diesel SUVs as well as cars in the national capital region. He has said that technologically, the ban is not justified. 
 
Speth stated that there are many aspects in which diesel engines are better than their petrol counterparts. "I am an engineer and I am very disappointed with the ban," he stated. 
 
"I don't understand the rationale behind the ban. All our models are Euro-VI complaint and these vehicles clean the air, and the air they suck in is far dirtier than which comes out of it. If we ban these kinds of vehicles I don't understand it," Speth told PTI. He was interacting with the sidelines of the Auto Expo 2016, which started today. 
 
In order to overcome the ban, JLR would be looking to bring in more petrol variants of its models, as stated by Rohit Suri, president of JLR India. He also added that they already sell petrol variants of the Jaguar XJ, Range Rover Sport. 
 
Today at the auto expo, the company launched two petrol variants of the Jaguar XE. The new model will be assembled at the company’s Pune plant, making it the sixth model which would be assembled in the country. 
 
Speth was also asked about the impact of the slowdown in China, to which he said that 2015 was a very difficult year for the company in the world's largest auto market. He also added that confounding the problem was the heavy loss that it had to suffer, because of the blast at the Tianjin port. 
 
However, he looked hopeful about faster growth in Europe, which has become its largest market in 2015, led by Britain. 
 
<a href="http://images.car.bauercdn.com/pagefiles/13817/jlrresults6.jpg">Image source</a>

JLR Chief Ralf Speth thinks that ban on diesel cars is technologically not justified

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.flickr.com/photos/ubefoto/3468701303/sizes/l/in/photostream/">Uberto / Creative Commons</a></div></div></div><ul><li>Tata Motors' stock slumped 7% on Tuesday after it revealed a record £3.6 billion ($4.6 billion) loss at its Jaguar Land Rover business.</li><li>Revenue fell 6% at Britain's biggest car manufacturer as weak demand in China offset higher sales volumes in the UK and North America. </li><li>Jaguar Land Rover realised £1.3 billion in cost savings and invested £3.8 billion in a bid to turn around its business.</li><li>Watch <a href="https://markets.businessinsider.com/stocks/tata_motors_5-stock">Tata Motors</a> trade live.</li></ul>Shares in Tata Motors slumped 7% on Tuesday after it revealed a record full-year loss of £3.6 billion ($4.6 billion) at its Jaguar Land Rover business, wiping more than 40 billion rupees ($570 million) from the Indian car giant's market cap.Jaguar Land Rover, Britain's biggest car manufacturer and exporter, posted a 6% fall in revenue to about £24 billion ($30.5 billion) in the year to May. Strong interest in its Jaguar E-Pace, electric Jaguar I-Pace, and Range Rover Velar models drove unit sales up about 8% in the UK and North America, but lackluster demand in China meant overall retail sales slid about 6% to below 579,000 vehicles. Wholesale volumes also fell 11% to around 565,000 units. Weaker sales contributed to JLR's pre-tax loss of about £3.6 billion - a sharp swing from its pre-tax profit of £1.5 billion ($1.9 billion) in the previous financial year. However, exclude £3.3 billion in non-cash impairment charges and transformation costs, and the loss was £358 million.JLR's plan to revitalize its business is to cut costs, boost efficiency, and bet on new technologies. It has realized about £1.3 billion worth of cost savings from its 'Charge' transformation program. It has also invested £3.8 billion in developing new products and technologies, expanding manufacturing, and creating products more efficiently. However, the company faces "multiple headwinds simultaneously sweeping the automotive industry," said CEO Ralf Speth.The Tata Motors division sold more commercial and passenger vehicles to both wholesale and retail customers in the period, sending its net revenue up 20% to 692 billion rupees ($9.9 billion) and generating adjusted pre-tax profits of 26 billion rupees ($373 million). The overall company grew revenue by about 4% to a little over 3 trillion rupees ($43 billion), but it swung to an adjusted pre-tax loss of around 17 billion rupees ($247 million).A bonus just for you: <a href="https://www.businessinsider.com/subscription/try-prime?ms" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.businessinsider.com/subscription/try-prime?ms&amp;source=gmail&amp;ust=1558527990935000&amp;usg=AFQjCNEH1S6iyq5MI0gRDTiI2xCSXViJpw">Click here to claim 30 days of access to Business Insider PRIME</a> <a href="https://www.businessinsider.com/intelligence/the-self-driving-car-race?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=transportation&amp;itm_campaign=the-self-driving-car-race"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/lifelong-iphone-user-switches-android-samsung-galaxy-s10-2019-5">I've used iPhones for nearly a decade and switched to the Samsung Galaxy S10. Now I understand Android loyalty in a way I never understood before.</a></h3> <div> </div> </div>

Jaguar Land Rover's brutal loss due to weak Chinese demand is hammering shares of Britain's biggest carmaker

The <keyword id="6355725" type="CITY" weightage="100" keywordseo="Tata-Group">Tata Group</keyword>, one of the biggest foreign investors and employers in the UK, is reviewing its strategy and operations in the island country following <keyword id="11101" type="COUNTRY" weightage="100" keywordseo="Britain">Britain</keyword> voting to withdraw from the <keyword id="6355110" type="ORGANIZATION" weightage="100" keywordseo="European-Union">European Union</keyword> (EU) even as nervous investors dumped shares of its companies on the Indian bourses. 
 Shares of <keyword id="42747" type="CITY" weightage="100" keywordseo="Tata-Motors">Tata Motors</keyword>, <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword> and TCS were down 8%, 6% and 3% respectively in a weak Indian market on Friday, making the group lose Rs 30,000 crore in a single day n market capitalization. 
 
The salt-to-software giant currently has 19 companies operating in the UK, employing over 60,000 people. 
 
 
The group's automotive unit in the UK, Jaguar Land Rover (JLR), itself will take a hit of $1.47 billion in the next four years owing to a 10% levy on vehicles sold in EU nations and 4% on imports of components. 
 Tata Steel's UK unit sale too could suffer a setback with a change in government. The <keyword id="6430216" type="PERSON" weightage="100" keywordseo="David-Cameron">David Cameron</keyword> government had committed to take a 25% stake in the beleaguered unit while also offering hundreds of millions of pounds as financial support. 
 The Indian conglomerate entered the UK in 1907 and since 2000, through marquee acquisitions such as Tetley, JLR, Corus (<keyword id="723143" type="ORGANIZATION" weightage="100" keywordseo="Tata-Steel-UK">Tata Steel UK</keyword>), St James Court Hotel, Brunner Mond, among others, it has built a significant presence in the British country "Each company continuously reviews its strategy and operations in the light of developments, and will continue to do so. Access to markets and to a skilled workforce will remain important considerations," said <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>, the holding company of the $109 billion group. 
 
The diversified enterprise's biggest revenue generating unit in the UK is JLR, followed by TCS. 
 
UK is the second largest contributor (nearly 16%) to the revenues of the software giant, which employs more than 11,000 people. 
 
JLR, which was acquired in 2008, contributes nearly 90% to Tata Motors profits. 
 
JLR derives 20% of its sales volumes and sources 35-40% of its components from EU member nations. 
 
With the UK exiting the EU, the cost of sourcing components from the European states and selling its vehicles in the region will go up as duties and tariffs coming into play. On the flip side, analysts said 
 
JLR will be a major beneficiary as the government will provide incentives to ensure that the UK's automotive industry remains competitive. 
 
Also, the depreciation of the pound could positively benefit the company's earnings through exports. 
 
With respect to the sale of Tata Steel UK, Financial Times, quoting unnamed sources, said there will now be "recalibration" after Brexit. 
 
The UK unit exports 12% of its volume to various EU member nations "If Britain were to exit the EU, Tata Steel would no longer be able to influence some of the major regulations such as environmental controls and anti-dumping measures which impact its UK operations," Tata Steel had said prior to Brexit. 
 
The EU referendum result could also bring about changes in British Pension Scheme, negatively impacting the unit's 11,000 employees. 
 
Image: Indiatimes

Tata Group stocks hardest hit by Brexit, company loses Rs 30,00 crore in a day

It’s final. The United Kingdom will ‘LEAVE’ the <keyword id="6355110" type="ORGANIZATION" weightage="100" keywordseo="European-Union">European Union</keyword>. It will no longer be a part of the 28 member European nation’s bloc that constituted the EU. As historic a decision as it is, it will also have a sure shot impact on India as well. This is what will happen now: 
 
Volatility in the Stock Market As a result of huge sell-offs by foreign investors, to hedge their losses in emerging markets. While stock markets in the UK are expected to tumble as much as 20%, in India, post an immediate knee-jerk reaction in the markets given sell-offs, it will largely smooth out. In fact, Sensex opened 780 points down at 26227, while the Nifty was down 247 points at 8022. That said, Indian markets are expected to largely stabilise over a 10-15 day window, given domestic indicators like monsoon and inflation are largely stable and healthy. The Government in India and its other independent regulators protecting its currency are however in full charge of the situation. In a statement released on June 22, the Reserve Bank of India said, “In the run up to the referendum in the United Kingdom on its continuing in the European Union, uncertainty about the poll outcome has resulted in some amount of turbulence in global financial markets, including in India. The RBI is maintaining a close vigil on developments, and will take all necessary steps, including liquidity support, to ensure orderly conditions in financial markets.” There is an impending worry by experts who fear the rupee could fall to Rs68 to a Dollar, now that <keyword id="6355333" type="UNKNOWN" weightage="100" keywordseo="Brexit">Brexit</keyword> is a reality. 
 
Trade 
India will largely benefit from the Brexit. India’s trade with the UK has been significantly rising over the last decade, more so over the last 5 years, whereas it’s trade with the rest of the EU has seen a steady decline, given unclear and confusing regulations along with tariff issues. India will now have greater flexibility to negotiate a bilateral Trade Agreement with the UK that has been languishing mostly given the ambiguous and extremely confusing laws governing the EU. India for the last 8 years now has been trying to strike a Free Trade Agreement with the EU, but again, given the complexity of the laws that require it to keep in mind and safeguard economies of 27 (post Brexit) member nations, it hasn’t seen the light of the day yet. Meanwhile, India’s bilateral trade with the UK stood at $14bn in 2016, with India exporting goods and services worth close to $9bn and imports from the UK counting at just over $5bn. 
 
Indian Companies in the UK 
There are over 800 Indian companies with operations in the UK, employing over a million people. However, the biggest company to get impacted will be Tata Motors, which owns UK’s largest carmaker, JLR. Tata Motors stocks were already down over 12% as soon as trade opened this morning. The others to face the music will be Motherson Sumi which was down over 10% as soon as trade opened. Then there are Pharma companies like Aurobindo Pharma and banks like ICICI and Axis Bank that have significant UK exposures. Most Indian companies in the UK use that country as an exporting base to the rest of the EU and some of their strategies will now have to be relooked into, given how domestic laws in the UK now change with regards exports and imports. 
 
<a href="http://static3.uk.businessinsider.com/image/5639ee4bbd86ef185c8bbfb0/david-cameron-is-letting-his-ministers-campaign-for-a-brexit-if-they-want-to.jpg">Image source</a>

It’s a BREXIT! This is how India gets impacted

<ul><li> Production at the new gigafactory is due to start in 2026.</li><li><keyword id="6354362" type="General" weightage="50" keywordseo="jaguar-land-rover" source="Orion">Jaguar Land Rover</keyword> will be the anchor customer of the new gigafactory.</li><li>The new gigafactory with an initial output of 40GWh will be one of the largest in Europe.</li></ul> The UK government on Wednesday announced that the <keyword id="6355725" type="General" weightage="80" keywordseo="tata-group" source="Orion">Tata Group</keyword> is to invest over 4 billion pounds in setting up a new electric vehicle (EV) battery plant, or gigafactory, in Britain which will create thousands of jobs across the supply chain. British Prime Minister <keyword id="221875" type="General" weightage="70" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> hailed it as an "incredibly proud" moment for the country's automotive industry and described it as a testament to the strength of the UK car manufacturing industry and its skilled workers. <keyword id="42747" type="General" weightage="60" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> owns UK-based luxury carmaker Jaguar Land Rover (JLR), which will be the anchor customer of the new gigafactory with an initial output of 40GWh - making it one of the largest in Europe. Production at the new gigafactory is due to start in 2026 and is pitched as a key driver behind Sunak's priority to grow the UK economy. "Tata Group's multi-billion-pound investment in a new battery factory in the UK is a testament to the strength of our car manufacturing industry and its skilled workers," said Sunak. "With the global transition to zero-emission vehicles well underway, this will help grow our economy by driving forward our lead in battery technology whilst creating as many as 4,000 jobs, and thousands more in the supply chain," he said. "We can be incredibly proud that Britain has been chosen as home to Tata Group's first gigafactory outside India, securing our place as one of the most attractive places to build electric vehicles," the British prime minister said. As one of the largest-ever investments in the UK auto industry, the new factory will create up to 4,000 highly skilled jobs as well as thousands of further jobs in the wider supply chain for battery materials and critical raw minerals. The gigafactory will secure UK-produced batteries for JLR as well as other manufacturers in the UK and Europe. The location of the new gigafactory is expected to be in Somerset, south west England. "Our multi-billion-pound investment will bring state-of-the-art technology to the country, helping to power the automotive sector's transition to electric mobility, anchored by our own business, JLR," said N Chandrasekaran, Chairman of parent company Tata Sons. "With this strategic investment, the Tata Group further strengthens its commitment to the UK, alongside our many companies operating here across technology, consumer, hospitality, steel, chemicals, and automotive," Chandrasekaran said. The Department for Business and Trade (DBT) said details of the government's incentives and support provided to the Tata Group as part of the agreement will be published in due course as part of regular transparency data. However, reports in the lead-up to the announcement had indicated subsidies in the form of grants, energy subsidies and other training and research funding would be part of the agreed package. "Today's multibillion-pound investment demonstrates that this government has got the right plan when it comes to the automotive sector," noted UK Business and Trade Secretary Kemi Badenoch. "We are backing the UK car industry to help grow our economy as we transition to electric vehicles, and this latest investment will secure thousands of highly-skilled jobs across the country," Badenoch said. The investment of over 4 billion pounds is seen as a historic moment for the UK's growing electric vehicles (EV) industry, with JLR's suite of <keyword id="91410" type="General" weightage="50" keywordseo="range-rover" source="Orion">Range Rover</keyword>, Defender, Discovery and Jaguar brands as the key customers. The Tata investment is described as crucial to boosting the UK's battery manufacturing capacity needed to support the electric vehicle industry in the long term and the new plant will cover almost half of the battery production that the Faraday Institution estimates the country will need by 2030. "This is a huge vote of confidence in the UK and one that will drive growth in our economy, creating thousands of jobs and powering our transition to electric cars," said UK Chancellor Jeremy Hunt. "Tata Group's gigafactory builds on the strength of our manufacturing industry and shows we're on the right track, backing the sectors that will underpin our future prosperity for decades to come," he said. DBT said the government is committed to making the UK one of the best places in the world for automotive investment, as evidenced by the Automotive Transformation Fund (ATF), the British Industry Supercharger supporting industry energy needs, and the strong programme of support for research and development. "This new gigafactory puts us firmly in the fast lane to becoming the capital of Europe's electric car market, and makes crystal clear how they see the UK as the place to be for their future growth," added UK Energy Security Secretary Grant Shapps. "With thousands of jobs on-site and in the supply chain, this new factory will be the cornerstone of our automotive industry, backing manufacturers to develop and expand, and customers to make the switch from petrol and diesel," he said.

Rishi Sunak hails Tata Group's multi-billion EV investment in UK

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://media.jaguarlandrover.com/en-gb/images?start=72&amp;brand=corporate">Jaguar Land Rover</a>The Range Rover Sport Dynamic, a Jaguar Land Rover car.</div></div></div><ul><li>Jaguar Land Rover CEO says a hard Brexit would cost it £1.2 billion in profit a year and force it to reconsider its presence in the UK.</li><li>The carmaker is calling for clarity and certainty about Britain's future trading relationship with the EU.</li><li>Airbus and Siemens have issued similar warnings in recent weeks.</li></ul> Jaguar Land Rover (JLR) has warned that a so-called hard Brexit would cost it £1.2 billion ($1.59 billion) a year and threaten its future in the United Kingdom.JLR's CEO Ralf Speth said in a statement: "A bad Brexit deal would cost Jaguar Land Rover more than £1.2 billion in profit each year."As a result, we would have to drastically adjust our spending profile; we have spent around £50 billion in the UK in the past five years - with plans for a further £80 billion more in the next five. This would be in jeopardy should we be faced with the wrong outcome."Speth's statement confirmed earlier comments he made in <a href="https://www.ft.com/content/d077afaa-7f8a-11e8-bc55-50daf11b720d">an interview with the Financial Times</a>, published late on Wednesday."We urgently need greater certainty to continue to invest heavily in the UK and safeguard our suppliers, customers and 40,000 British-based employees," Speth said in his statement.As things stand, Theresa May's current Brexit policy is to leave both the single market and customs union, a plan which businesses have warned will create costly delays to supply chains through tariff and non-tariff barriers to trade.JLR is Britain's biggest car manufacturer and exporter. One in three cars sent overseas are Jaguars or Land Rovers and 80% of the 621,000 cars it sold in 2017 were sold internationally. 20% went to Europe.As well as sales, the uncertainty of future trading relations with Europe creates a headache for the carmaker when it comes to its supply chain. 40% of the parts that go into its cars are imported from mainland Europe.Speth and JLR called on the UK government to urgently clarify future trading arrangements with Europe post-Brexit and to guarantee tariff-free trade."Jaguar Land Rover's heart and soul is in the UK," Speth said in a statement. "However, we, and our partners in the supply chain, face an unpredictable future if the Brexit negotiations do not maintain free and frictionless trade with the EU and unrestricted access to the single market."Jaguar Land Rover joins Airbus and Siemens in putting pressure on the UK government over Brexit. Airbus said a fortnight ago that <a href="http://www.businessinsider.com/r-airbus-says-no-deal-brexit-would-force-it-to-reconsider-uk-presence-2018-6">a "no deal" Brexit would force it to reconsider its presence in the UK</a>, with Siemens following with a similar warning shortly after. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/impact-investor-says-stop-trying-help-people-without-including-them-2018-6">This impact investor says stop trying to help people without including them in the conversation</a></h3> <div> </div> </div>

You Searched For "JLR britain" and got 7 results

Jaguar Land Rover calls Brexit day ‘business as usual’

BI India Bureau

JLR Chief Ralf Speth thinks that ban on diesel cars is technologically not justified

Jaguar Land Rover's brutal loss due to weak Chinese demand is hammering shares of Britain's biggest carmaker

Theron Mohamed

Tata Group stocks hardest hit by Brexit, company loses Rs 30,00 crore in a day

BI India Bureau

It’s a BREXIT! This is how India gets impacted

Debdatta Das

Rishi Sunak hails Tata Group's multi-billion EV investment in UK

PTI

Jaguar Land Rover says 40,000 UK jobs and £80 billion of investment are threatened by a 'bad Brexit'

Oscar Williams-Grut,Adam Payn…

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You Searched For "JLR britain" and got 7 results

Jaguar Land Rover calls Brexit day ‘business as usual’

BI India Bureau

JLR Chief Ralf Speth thinks that ban on diesel cars is technologically not justified

Jaguar Land Rover's brutal loss due to weak Chinese demand is hammering shares of Britain's biggest carmaker

Theron Mohamed

Tata Group stocks hardest hit by Brexit, company loses Rs 30,00 crore in a day

BI India Bureau

It’s a BREXIT! This is how India gets impacted

Debdatta Das

Rishi Sunak hails Tata Group's multi-billion EV investment in UK

PTI

Jaguar Land Rover says 40,000 UK jobs and &#163;80 billion of investment are threatened by a 'bad Brexit'

Oscar Williams-Grut,Adam Payn…

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Jaguar Land Rover says 40,000 UK jobs and £80 billion of investment are threatened by a 'bad Brexit'