Jaguar Land Rover (JLR) has confirmed it is creating hundreds of new jobs in South America.
The firm revealed plans to open a new car plant in Brazil that will produce 24,000 cars a year once production begins in 2016.
JLR is spending £240 million on the new factory, which is in addition to the plant it is setting up in China and the creation of hundreds of new jobs in Solihull, England.
Dr Ralf Speth, chief executive of JLR, said: "Brazil and the surrounding regions are very important. Customers there have an increasing appetite for highly capable premium products."
JLR is the luxury brand of India's massive Tata Motors company, which has grown into one of the world's largest firms in the last few years.
Tata is aiming to target the growing middle class in countries such as China and Brazil by stepping up production at its JLR sites in these nations.
The share price of Tata Motors is broadly flat today (December 6th) and was up by 0.06 per cent at 08:45 GMT this morning.
Find up to date information on the FTSE 100 and spread betting strategies at City Index
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.