Jaguar Land Rover has announced that the automaker will expand its engine plant in Wolverhampton to create hundreds of new jobs and boost production. The expansion is valued at £450 million.
The site was just opened a year ago, with investments now reaching £1 billion.
The company has stated that they had a long-term commitment in Britain, and the plan has manufactured more than 50,000 engines so far. Four-cylinder diesel engines are also produced in the plant.
Wolverhampton’s plant is called the Engine Manufacturing Center (EMC). EMC has been open for 12 months and has a workforce of 700 employees. The expansion of EMC will add double the manufacturing space, and is projected to create at least 700 more jobs.
Jaguar Land Rover also announced on Sunday that the company is planning to cut costs by $6.8 billion by 2020. The company hopes to produce over 1 million vehicles during this time. The project that has been created is called Lead 4.5. The plan hopes to offset China’s slowing sales while also being able to meet admission standards and the increased costs associated with them.
Sales in China decreased 32% in July, and was the company’s fastest-growing market according to data released last year.