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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

V12-powered Jaguar E-Type Series 3 the restomod treatment from UK firm

As Jaguar tries to figure out its future, a growing number of aftermarket companies are reinventing its past. British restoration shop E-Type UK is the latest company to announce a restomod program for the popular sports car released in 1961. It's working with later Series 3 models, which is a little unusual, and it leaves no part untouched. E-Type UK starts every Unleashed project with a donor car; it doesn't build an E-Type from scratch. After strengthening the basic platform, it bores out the V12's cylinders to increase its displacement to 6.1 liters, 800 cubic centimeters more than stock. Additional modifications, like an electronic fuel-injection system and a free-flowing exhaust system, boost the engine's output to 400 horsepower, and a five-speed manual transmission sends the cavalry to the rear wheels. Four-piston front brake calipers ensure the Unleashed stops as well as it goes. With the engine finished and tuned, E-Type UK turns its attention to the chassis. It fits the E-Type with technology the original model could only dream of, like fully adjustable shock absorbers. Wire wheels are standard equipment, they fit the car's sleek profile well, but their diameter increases slightly to 16 inches to clear the bigger brakes. Designers restyled the bumpers, the grille, and the exterior emblems, though the changes are relatively subtle, and they added LED headlights to give the E-Type the visibility of a modern car. Inside, the only limit is the thickness of the buyer's wallet. Anything is possible; the options include different types of leather upholstery and various trim options. Heated seats, LED lighting, a push-button ignition, Bluetooth connectivity, and a surround-sound system are among the equipment added by E-Type UK to encourage future owners to drive their Unleashed often. All told, each build requires at least 4,000 hours of labor, which partially explains why pricing starts at GBP325,000 (around $447,600 at the current conversion rate) before the cost of a donor car enters the equation. For context, that money could buy you two examples of the Lamborghini Huracan Evo and a garage to keep them in, a small plane, or 447 examples of your favorite $1,000 econobox. And yet, we doubt E-Type UK will have a difficult time finding clients. Restomods are a big trend in the industry, some are even Volvo-based, and they're never cheap. Related video: This content is hosted by a third party. To view it, please update your privacy preferences.

Jaguars and Land Rovers to feature in 007's Spectre

James Bond may be more closely associated with Aston Martin, but Jaguars and Land Rovers have featured in 007 movies new and old. Skyfall, the most recent installment in the series, opened with Bond and Moneypenny ripping through the streets of Istanbul in a Defender and saw M being chauffeured around London in an XJ. And the upcoming feature Spectre is set to feature some of JLR's finest as well. While Bond himself will be piloting the new Aston Martin DB10, the movie will also feature a Jag and a couple of Landies. The Jaguar C-X75 concept, as we know, will be part of a chase scene against the DB10, now revealed to be set in Rome. But the movie will also include the new Range Rover Sport SVR (with what looks like some auxiliary lighting) and at least two Defenders modified by JLR Special Operations to "Big Foot" specifications with 37-inch off-road tires, upgraded suspensions and added bodywork protection. As you may recall, a couple of months ago a fleet of nine vehicles used in the film were stolen from a garage in Dusseldorf, including five Range Rover Sports. This is the first confirmation we're seeing of any of them being SVR models, or of the Big Foot Defenders being part of the mix as well. The scenes including the Land Rovers have already been filmed in Austria, and we're looking forward to seeing them all on the silver screen come November. Related Video: JAGUAR AND LAND ROVER ANNOUNCE PARTNERSHIP WITH SPECTRE, THE 24TH JAMES BOND ADVENTURE - Continuing Jaguar Land Rover's successful involvement with the Bond franchise, Jaguar C-X75, Range Rover Sport SVRandLand Rover Defender Big Foot to feature in new James Bond movie, SPECTRE - C-X75 concept vehicles will form part of spectacular chase scene in Rome Monday 9 Feb 2015 12:01 GMT: Jaguar Land Rover has announced its line-up of vehicles set to feature in SPECTRE, the 24th James Bond adventure, from Albert R. Broccoli's EON Productions, Metro-Goldwyn-Mayer Studios, and Sony Pictures Entertainment. These will include the Jaguar C-X75, Range Rover Sport SVR and Defender Big Foot, which have been provided by Jaguar Land Rover Special Operations. The Jaguar C-X75 will feature in a spectacular car chase sequence through Rome alongside the Aston Martin DB10. The C-X75 vehicles used in filming have been built in collaboration with Williams Advanced Engineering facility in Oxfordshire, England.