Slovakia signs Letter of Intent with Jaguar Land Rover

Slovak Government has signed a Letter of Intent with Jaguar Land Rover for the potential development of a new manufacturing plant in the city of Nitra in western Slovakia, announced Slovak Prime Minister Robert Fico at a press conference on Tuesday.

"We look forward to working closely with Jaguar Land Rover over the coming months to progress the negotiations," said Fico.

The feasibility study underway with the Slovak government will explore plans for a factory with an installed capacity of up to 300,000 vehicles over the next decade. As part of Jaguar Land Rover's commitment to deliver more lightweight vehicles, the plant would manufacture a range of aluminium Jaguar Land Rover vehicles. It is anticipated that the first cars will come off production line in 2018.

"The new factory will complement our existing facilities in the UK, China, India and the one under construction in Brazil," Chief Executive Officer of Jaguar Land Rover Ralf Speth said.

Subject to the outcome of the feasibility study, a final decision is expected later this year.

Car industry has a stable and strong position within Slovak economy. Three producers, VW, Kia Motors and PSA Peugeot Citroen, produced more than 970,000 automobiles in Slovakia last year.