Tata Motors subsidiary JLR to open $1.6 billion plant in Slovakia

Tata Motors, one of India’s largest automobile company, announced that its wholly-owned subsidiary, Jaguar Land Rover (JLR), is opening a new plant worth around $1.6 billion in Slovakia, its first in continental Europe. The company will initially produce 150,000 cars a year. The Slovak government is giving the carmaker investment subsidies of up to 130 million euro ($148 million). 
  
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. 

The stock on October 25, 2018, closed at Rs. 165.40 on the BSE, down by about 3 per cent.