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Jaguar Land Rover to cut $6.8 billion in costs

Jaguar Land Rover reduce costs by $6.8 billion and will push annual production volume to 1 million vehicles under a secret project called Leap 4.5, according to Reuters. The British automaker wants to achieve these ambitious goals by the end of the decade to compensate for the changing market in China and to counteract the price of meeting stricter emissions standards around the world. Leap 4.5 won't mean firing workers or cutting the automaker's $4.5 billion annual research budget. JLR will instead find savings by underpinning more models with modular platforms and by adjusting its supply chain. Future factories like the one in Brazil and the proposed plant in Slovakia also won't be affected by the new strategy. Globally, JLR continues to grow, and deliveries are up two percent through October 2015 to 390,965 vehicles. Business just last month was up 24 percent year-over-year to 41,553 units. However, the auto market's downturn in China has taken a bite out the automaker's success because volume dropped there 32 percent in the third quarter, Reuters reported. A global volume of 1 million vehicles will mean more than doubling 2014's 462,678 deliveries, but JLR has made significant investments to boost production recently. In addition to the future factories, it opened its first plant in China last year and an engine assembly site in the UK. The company also signed a deal with Magna Steyr in 2015 to build an upcoming model in Austria. Related Video:

Jaguar Land Rover won't get a bailout from the UK

Bailout talks between Jaguar Land Rover and Tata Steel with the UK government have ended, leaving both firms to rely on private financing to overcome the impact of coronavirus on business, the Financial Times reported on Friday. The report said that talks for an emergency funding fell through as Jaguar Land Rover (JLR) did not qualify for taxpayer support. It is the luxury car unit of India's Tata Motors and Tata Steel, both owned by Indian conglomerate Tata Group. The bailout plan, titled "Project Birch", had been authorized by Finance Minister Rishi Sunak in May to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a "last resort" basis after other options run out. The report, citing a source familiar with the matter, said that the funding scheme became infeasible for Tata as it imposed strict conditions on any lending. "Tata Steel remains in ongoing and constructive talks with the UK Government on areas of potential support," Tata Steel said in an emailed statement. The UK Treasury said it would not comment on individual companies. Tata Motors did not immediately respond to request for comment. Related Video: Earnings/Financials Government/Legal Jaguar Land Rover

This Ford F-150 might have a Land Rover turbodiesel V6

Our spy photographers just caught this Ford F-150 driving around Dearborn, wearing camouflage around the bed – not so unusual near Ford's headquarters. What's interesting with this particular mule is that it might be packing a Jaguar-Land Rover turbodiesel V6. As with the Super Duty, the F-150 prototype pictured here sports a Venturi exhaust tip popping out the side of the rear bumper behind the wheel, which – along with the sound reported by our shutterbug – suggests that it's burning oil up front. That could mean Ford has found another application for the 3.2-liter, five-cylinder Power Stroke diesel that it just federalized for the Transit van. However our sources suggest what the mule is actually powered by the 3.0-liter Lion V6 diesel that Jaguar Land Rover – once subsidiaries in Ford's Premier Automotive Group – is bringing over for the Td6 models of the Range Rover and Range Rover Sport. The engine produces a respectable 254 horsepower and a healthy 443 pound-feet of torque, and is tipped to be mated to the same ten-speed automatic transmission as the new Raptor. That could give the F-150 the kind of fuel economy and muscle it would need to challenge the likes of the Ram 1500 EcoDiesel and the heavier-duty Nissan Titan with the Cummins engine. With gas prices as low as they are, however, and sales of diesel-powered vehicles lagging, Ford could just be trying to keep up with the competition by offering a light-duty diesel pickup. With its lightweight aluminum body, the diesel F-150 could even surpass the Duramax diesel-powered Chevy Colorado and GMC Canyon for frugality at the pumps, according to Mark Williams of PickupTrucks.com. He told Autoblog that, "it makes perfect sense for Ford to do a diesel. It seems like everyone is pushing them to do a Ranger, but if they can get the F-150 to push 30 mpg it can challenge the Ram Ecodiesel and even the Colorado Duramax." Reached for comment, Ford spokesman Mike Levine sent us the following statement: "We do not speculate about future products. While diesel is a solution, it is not the solution. EcoBoost offers the ideal combination of performance and fuel economy that over 60 percent of F-150 customers are choosing." Featured Gallery 2017 Ford F-150 Diesel: Spy Shots Image Credit: Brian Williams / SpiedBilde Green Spy Photos Ford Land Rover Truck Diesel Vehicles jaguar land rover ford f-150 diesel