February 13, 2017 | Rebecca Coons
Ineos has today confirmed that it is entering the car manufacturing business. The announcement follows the completion of a six-month feasibility study. The company says that there is a gap in the market following the decision by Jaguar Land Rover, part of Tata Motors, to cease production of the Land Rover Defender. Ineos plans to build a brand new "uncompromising" 4 x 4 off-roader. Ineos says it is expecting to spend many hundreds of millions of dollars on the project and is determined that the vehicle will not only fill a gap in the market vacated by the Defender but also provide a step change improvement in quality and reliability. The company is looking for a manufacturing location in the UK and other sites in Europe. The project is the brainchild of Ineos chairman, Jim Ratcliffe, who was a fan of the original Land Rover Defender. Dirk Heilmann, formerly head of engineering and technology at Ineos has been appointed CEO of Ineos Automotive.