Jaguar Land Rover Automotive PLC is gearing up to make a major investment in its U.K. manufacturing operations, BBC News reported March 1, citing sources close to the company and the U.K. government.
The investment amount was not disclosed, though it is expected to be announced in early March.
The report follows suggestions that parent Tata Motors Ltd. was considering a sale of Jaguar Land Rover after the Indian company wrote down the value of the subsidiary by £3.1 billion on the back of weak demand from China.
The investment would be a rare positive development for the U.K.'s struggling auto industry. Carmakers such as Nissan Motor Co. Ltd. and Honda Motor Co. Ltd. have announced plans to shut down operations and abandon local production plans, while Jaguar Land Rover said it will cut 4,500 jobs worldwide as part of a £2.5 billion cost-cutting drive.