In a recent development at the Britsh camp, Jaguar Land Rover has signed a letter of intent with the National Industrial Clusters Development Program (NICDP) in Saudi Arabia and it has already started conducting feasibility studies there.
Mr. Azzam Yaser Shalabi the President of the NICDP Saudi Arabia and Dr Ralf Speth, Jaguar Land Rover Chief Executive Officer were the officials who took charge of the agreement.
Dr Ralf Speth, Chief Executive of Jaguar Land Rover, on signing of the agreement said: “We are committed to further international partnerships to meet record demand for our highly sought after vehicles. The Kingdom of Saudi Arabia is an attractive potential development option, complementing our existing advanced facilities in Britain and recent manufacturing plans to expand in other countries including India and China.” Jaguar seems to leave no stone unturned when it is going to come to providing luxury cars at competitive prices.
A joint venture betwee Alcoa of USA and Saudi Arabian Mining Company, will be the world’s largest aluminium complex and will begin production in 2014 which would create immense potential for the automobile sector and Jaguar has been a leader in this technology and shall look to reap benefits from this venture.
Also, this is considered to be one of the major reasons in Jaguar entering Saudi Arabia. This announcement comes after their announcement of a joint venture with Chinese Chery Automobiles to set up a plant in China and their setting up a new assembly line in India.
HRH Prince Faisal Bin Turki bin Abdul Azi Al Saud and the Saudi Arabian Government see Jaguar’s venture as the one which would be strengthening their industrial as well as automotive sector.
Jaguar uses lightweight metals for its premium cars and this might just be the deal which will help them in improving their already class leading aluminium body development. Who knows, they might start exporting from there too. The deal currently seems to be at a nascent stage and further plans will be announced in 2013.