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Ratcliffe's Ineos still to decide on plant location for new 4x4

Reuters  |  LONDON 

(Reuters) - Billionaire Jim Ratcliffe's petrochemicals firm has yet to decide where it will build its first off-road vehicle after suggested last year that it could make the car in

(JLR) stopped making its classic 4x4, known the world over and with famous owners including Elizabeth, in 2016 after 68 years, prompting the petrochemicals giant to announce plans for its own vehicle.

In November, said it had had "European discussions" and planned to choose its by the end of 2018 but on Tuesday, the firm said a decision has yet to be made.

"Site evaluation still continues and no final decision has been taken," the company said. "We will announce our decision in due course."

founder and Ratcliffe said in 2017 it would be cheaper to build the car in countries such as where the workforce is already trained and suggested government support would be needed to ensure the plant happens in Britain.

Investment in Britain's looks very likely to have fallen in 2018, industry body the has said, after drops in 2016 and 2017 as carmakers wait to see the nature of trading terms with the after Brexit.

JLR is due to launch a new which sources say will be built at the firm's plant.

(Reporting by Costas Pitas; editing by Stephen Addison)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 21:30 IST