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The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.

Jaguar Land Rover partners with Nvidia for vehicle electronics and software

DETROIT — Luxury automaker Jaguar Land Rover and Silicon Valley artificial intelligence company Nvidia said Wednesday they will collaborate to develop the computer brains and nervous systems for Jaguars and Land Rovers launching in 2025 and beyond. The companies did not disclose financial terms of their multiyear agreement. The collaboration is a high-profile win for Nvidia Corp's effort to expand its reach in the auto industry, building on its base in gaming, artificial intelligence and high-powered chips and software used in servers. For Jaguar Land Rover Automotive, the partnership with Nvidia gives it a well-funded ally as it tries to catch up with Tesla and other luxury vehicle rivals in a digital technology arms race. "We can now accelerate our in-vehicle software," Francois Dossa, JLR's executive director for strategy, said during a conference call. Working with Nvidia engineers, Jaguar Land Rover plans to develop vehicles that can drive themselves under certain conditions, park autonomously and provide more information and software-powered features to drivers, the companies said. The new Jaguars will be upgradable — as Tesla vehicles are today. The automaker said it will use Nvidia technology to power simulations used to train autonomous vehicles. Jaguar Land Rover has a previous deal with Alphabet Inc's Waymo unit to deploy autonomous driving technology. Dossa said the Waymo collaboration was limited to the Jaguar I-PACE electric SUV. The Nvidia alliance covers all Jaguar and Land Rover models to be launched from 2025. Nvidia technology will act as the brains and the nervous system of Jaguar Land Rover vehicles starting in 2025, said Nvidia's vice president of automotive, Danny Shapiro. Nvidia last month announced deals with several Chinese electric vehicle brands. The company has said it has $8 billion in automotive business booked over the next six years. Shapiro said the company will update the figure during an investor day scheduled for March 22. Jaguar Land Rover, a subsidiary of India's Tata Motors Ltd has been struggling with rising costs and semiconductor shortages. Jaguar Land Rover reported a narrow pretax profit for the quarter ended Dec. 31, but Tata Motors reported a larger quarterly loss than expected. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Jaguar Land Rover Technology Autonomous Vehicles nvidia

Jaguar Land Rover in talks for Southern US factory

Jaguar Land Rover is getting serious about global expansion, and that means it can't only build its vehicles in the UK anymore. The British automaker is cutting the ribbon at its new plant in China tomorrow, marking the opening of its first factory outside the UK. In 2016, it will open another factory in Brazil. But the latest intel has it that JLR is looking into a US factory, as well.
The report, which comes to us from the Sunday Times by way of Automotive News Europe, indicates that the company is evaluating locations for a North American factory, with options centering around Southern right-to-work states like South Carolina, where BMW operates its plant in Spartanburg and a wide array of other automotive operations are based as well. The JLR plant would reportedly ramp up to a capacity of 200,000 units per year.
In related news, while that new plant JLR is inaugurating in Changshu, China, is initially slated to produce the Range Rover Evoque, it is also expected to start building the new Discovery Sport as well - just like the Halewood plant in the UK that has handled Evoque assembly from the start and which just built its first Discovery Sport, as well.