JLR drafts £4.5 bn cost-cutting plan

Tata Motors-owned Jaguar Land Rover has drafted a new 4.5-billion pounds cost-cutting plan to offset rising emissions cost and the slowdown in China, one of the biggest automotive markets in the world. The project known as Leap 4.5 will scrutinise almost every area of spending at Britain’s luxury car manufacturer, The Sunday Times reported. The 3-billion-a-year pounds capital budget, focused on research and development and new plants, will be spared. JLR has one of Britain’s biggest success stories since it was bought over by Tata Motors from Ford in 2008 and made 2.6-billion pounds profit last year, has almost 37,000 staff and builds about 500,000 cars a year.