17/03/2010
Energy efficient car parts
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UK manufacturer, Jaguar Land Rover has secured a GBP340 million loan from the European Investment Bank.Amidst challenging market conditions, the loan will be used to support the development of micro and full hybrid drivetrains and research into more energy efficient car bodies for the premium car segment. Jaguar Land Rover employs nearly 14,000 people, many of whom work at the plants located in Birmingham, Solihull and Halewood.Jaguar Land Rover said in a statement; Jaguar Land Rover welcomes the completion of this GBP340m financing facility and appreciates the support and confidence shown in the Jaguar Land Rover business by the European Investment Bank and the commercial banks providing guarantees for the loan. The funding will further advance Jaguar Land Rover's research and development programmes focused on technologies that will reduce CO2 emissions from its vehicles.While the global motor industry continues to face difficult economic conditions, the UK industry remains focused on sustaining its industrial capability and ensuring it is best placed to benefit from growth when the market recovers.
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