Jaguar Land Rover have been awarded the Queen’s Award for Enterprise in International Trade for their continued financial success.
The award, the highest accolade that can be bestowed on a UK company, was presented to Jaguar Land Rover CEO Dr Ralf Speth by Her Majesty’s Lord-Lieutenant of West Midlands, Mr Paul Chandrasekharan Sabapathy CBE, at JLR’s headquarters in Coventry.
The Queen’s Award follows in the wake of an unprecedented year of successes for Jaguar Land Rover after the company was named Responsible Business of the Year 2013, smashed their profit records and had their workforce lauded as ‘a credit to the UK’.
Nearly 80 per cent of all the vehicles produced by the company at its three manufacturing plants in the UK are exported, with a worldwide network of two-and-a-half thousand dealers and the largest export regions being mainland Europe, North America and China, which together account for 60 per cent of all export sales.
The company’s rising growth overseas saw an increase in vehicles sold in the past three years, with 274,280 vehicles sold in 2011, to 434,311 new cars sold in 2013, and the increased demand for JLR’s cars has created 11,000 new jobs in the past three years, with an additional 24,000 positions expected to be created in the future.
Commenting on the award, Jaguar Land Rover CEO Dr. Speth said: “Jaguar Land Rover is delighted and honoured to receive recognition of its contribution to British enterprise and I am privileged to accept this award on behalf of our 30,000 employees. Our success, driven by global exports to over 170 countries, is thanks to our dedicated and passionate employees who create exciting vehicles that are in high demand with customers around the world.”
He continued: “The Queen’s Award is one of the most important awards for British businesses. We are extremely proud that our positive contribution to society and to the growth of the UK economy has enabled us to achieve this.”
This is the first Queen’s Award to be won by Jaguar Land Rover as a single company since it was taken over by parent company Tata Motors in 2008, but each of the brands that make up JLR have won six times in the past between 1967 and 2008.
In addition, Jaguar Land Rover remains the only automotive company to hold all three Royal Warrants, the seal of approval awarded to companies or tradespeople who supply goods to a royal court or to royal personages, with the company holding warrants from HM The Queen, HRH The Duke of Edinburgh and HRH The Prince of Wales.
The company said it would continue its investment for the future by spending £2.68 billion in the coming year on new products, architectures, power trains and technologies as well as increased manufacturing capacity at an expanded plant in their Solihull site.
Additionally, money will be put towards a new £500m engine plant at the i54 site on the outskirts of Wolverhampton which is nearing completion and will eventually employ around 1,400 people to start production of the new Jaguar Ingenium engines early next year which are due to go into the new Jaguar XE Saloon, due to be unveiled later this summer.