If We Fund It, Will You Build It; UK Government Offers Millions To Fund New Land Rover LRX
March 12, 2009
The UK Government will grant Land Rover $37.2 million for the production of a new vehicle. The new model, according to Land Rover, will use the LRX Concept shown at the 2008 Detroit auto show as a base. The company claims the new model will be the smallest, lightest and most efficient model that the brand has ever produced.
Phil Popham, Managing Director of Land Rover, believes the project will work. "Our engineering feasibility study has shown that we can very successfully deliver Range Rover levels of quality, drivability and breadth of performance in a more compact, more sustainable, package. Feedback from the most extensive customer research we have ever undertaken also fully supports our belief that a production version of the LRX Concept would further raise the desirability of our brand and absolutely meets all those expectations."
According to Land Rover, the proposed vehicle still awaits final approval, and its overall project cost will total $551.5 million. The funds offered by UK government are separate from a broader automotive industry aid package, and come from the Government's Grant for Business Investment.
Source: Land Rover