<p>Tata Motors-owned Jaguar Land Rover has drafted a new 4.5-billion pounds cost-cutting plan to offset rising emissions cost and the slowdown in China, one of the biggest automotive markets in the world.<br /><br /></p>.<p>The project — known as Leap 4.5 — will scrutinise almost every area of spending at Britain's luxury car manufacturer, 'The Sunday Times' reported.<br /><br />The 3-billion-a-year pounds capital budget, focused on research and development and new plants, will be spared.<br /><br />JLR has one of Britain's biggest success stories since it was bought over by Tata Motors from Ford in 2008 and made 2.6-billion pounds profit last year, has almost 37,000 staff and builds about 500,000 cars a year.<br /><br />It has spent around 11 billion pounds on a new range of cars, built plants in China and India, with another under way in Brazil, and has overhauled its three British manufacturing plants.<br /><br />It aims to build one million cars a year by 2020. Sources close to JLR told the newspaper it was a natural time to take stock after such rapid growth and insisted that there were no plans for redundancies.<br /><br />Sales in China from July to September were down by a third year-on-year to 20,149 cars, against a wider market fall of 1.9 per cent.<br /><br />That drop was offset by strong growth in America and Europe. It also faced a 245-million pounds charge on 5,800 vehicles damaged in the huge explosion at the Chinese port of Tianjin in August.<br /><br />As well as the Chinese problems, JLR faces pressure from regulators to cut its emissions or face hefty fines, 'The Sunday Times' said.<br /><br />It has largely switched from steel to aluminium bodies, which lead to lower fuel consumption, but tougher emissions rules will require costly upgrades to models.<br /><br />Leap 4.5 targets 4.5 billion pounds of cumulative savings by the end of the decade.<br /><br />It is likely to see more models built on similar core skeletons, greater efficiency in manufacturing, supply chains overhauled and recruitment slowed or halted.<br /><br />The company has repeatedly stressed that it will continue the 3 billion-a-year pounds spending on R&D and new plant and equipment.<br /><br />JLR is yet to comment or confirm on the reported cost-cutting plans. <br /></p>
<p>Tata Motors-owned Jaguar Land Rover has drafted a new 4.5-billion pounds cost-cutting plan to offset rising emissions cost and the slowdown in China, one of the biggest automotive markets in the world.<br /><br /></p>.<p>The project — known as Leap 4.5 — will scrutinise almost every area of spending at Britain's luxury car manufacturer, 'The Sunday Times' reported.<br /><br />The 3-billion-a-year pounds capital budget, focused on research and development and new plants, will be spared.<br /><br />JLR has one of Britain's biggest success stories since it was bought over by Tata Motors from Ford in 2008 and made 2.6-billion pounds profit last year, has almost 37,000 staff and builds about 500,000 cars a year.<br /><br />It has spent around 11 billion pounds on a new range of cars, built plants in China and India, with another under way in Brazil, and has overhauled its three British manufacturing plants.<br /><br />It aims to build one million cars a year by 2020. Sources close to JLR told the newspaper it was a natural time to take stock after such rapid growth and insisted that there were no plans for redundancies.<br /><br />Sales in China from July to September were down by a third year-on-year to 20,149 cars, against a wider market fall of 1.9 per cent.<br /><br />That drop was offset by strong growth in America and Europe. It also faced a 245-million pounds charge on 5,800 vehicles damaged in the huge explosion at the Chinese port of Tianjin in August.<br /><br />As well as the Chinese problems, JLR faces pressure from regulators to cut its emissions or face hefty fines, 'The Sunday Times' said.<br /><br />It has largely switched from steel to aluminium bodies, which lead to lower fuel consumption, but tougher emissions rules will require costly upgrades to models.<br /><br />Leap 4.5 targets 4.5 billion pounds of cumulative savings by the end of the decade.<br /><br />It is likely to see more models built on similar core skeletons, greater efficiency in manufacturing, supply chains overhauled and recruitment slowed or halted.<br /><br />The company has repeatedly stressed that it will continue the 3 billion-a-year pounds spending on R&D and new plant and equipment.<br /><br />JLR is yet to comment or confirm on the reported cost-cutting plans. <br /></p>