The importance of continued investment in research and development, despite the current economic downturn, for future prosperity has been highlighted by Jaguar Land Rover.
Speaking at an event entitled Prosperity Through Science at Birmingham’s Thinktank, Jaguar Land Rover’s Group Engineering Director, Bob Joyce, told an audience of academics, industrialists and politicians that innovation delivered profits.
Mr Joyce used the example of the Dynamic Response System, which cost £8.5m to develop, as a key sales success for the Range Rover Sport which directly contributed significantly to annual profits thereafter.
“Technology is the ‘hidden’ feature that provides customer delight and creates ongoing profits for JLR and our partners. This is one example of how investment in science and technology can benefit the national and regional economy, while enhancing products and delivering profits. Applying the same approach will allow us to achieve reduced CO2 emissions in future products,” said Mr Joyce.
Jaguar Land Rover is in the vanguard of the UK motor industry’s drive towards a greener future. It invests £400m a year in research and development – well over a third of the total UK automotive spend on R&D. It is investing £800m on developing sustainable technologies that will lower CO2 emissions from its vehicles. In addition,
Jaguar Land Rover engineers are working with suppliers, universities and Advantage West Midlands, on a range of low carbon technologies including hybrids, kinetic energy, lightweight material and electric vehicles.