Find all Jaguar car parts here for the brand new F-Type sports car that will be built in the UK, creating up to 1,000 jobs.
Tata-owned Jaguar Land Rover (JLR) has announced it is to invest £200 million in its Castle Bromwich factory in Birmingham in order to increase capacity by around 50 per cent and allow it to meet the production demands of the new vehicle.
The news marks the completion of a remarkable turnaround for the factory, coming just three years after the factory was threatened with closure.
JLR, struggling to cope with plummeting sales, was at the time considering cutting its UK workforce to lower costs.
But the company has enjoyed a spectacular resurgence of late, boosted by surging demand for its luxury cars from China.
The company is on course for record pre-tax profits this year of around £1.5 billion, having made a profit of £559 million in the final three months of 2011 with revenues rising 41 per cent to £3.75 billion.
This has allowed Jaguar Land Rover to reinvest in its UK workforce, which now comprises 21,000 employees at its three factories in Halewood, Castle Bromwich and Solihull.
"Overall we hired around 4,500 more people at the company last year. And we will hire a huge amount more people in the UK this year. It will mean more jobs," the company's chief executive Dr Ralf Speth told thisismoney.co.uk
While JLR's resurgence has been mainly led by demand for its Land Rover and Range Rover branded vehicles, the company is now hoping to reenergise the Jaguar brand with the launch of the F-Type.
The sports car is being billed as the successor to the iconic E-Type of the 1960s.
It will be fully unveiled at the Paris Motor Show in September and is expected to go on sale in the UK next summer.