Jaguar Land Rover to retain plants

Jaguar Land Rover has announced a new investment plan, in a bid to protect its UK factories as well as create thousands of new jobs.

According to the car manufacturer, the new positions will include 1,500 at the Halewood plant on Merseyside.

The multibillion-pound plan will also protect the firm's other two factories at Castle Bromwich and Solihull in the West Midlands.

The company announced a "landmark" pay and conditions agreement with trade unions, as it aims to develop new models as well as increase the volume of its products.

The deal includes a two-year pay agreement worth 5% from next month. The carmaker also promised a further increase of at least 3% from November next year.

The firm will retain three factories in the UK, resulting in the creation of thousands of new jobs over the next 10 years.

Jaguar Land Rover chief executive Ralf Speth said: "This is a triumph for all concerned. We have ambitious plans for growth and the success of our products around the world and this agreement will allow us to accelerate and realise those plans.

"The agreement is a great deal for our workers and the company and we can now really get on with working together to achieve an even more exciting future for the Jaguar and Land Rover brands."

Copyright © Press Association 2010