European Commission Okays Slovak aid for Jaguar Land Rover

European Commission announced on Thursday that it had approved Slovak investment aid for Jaguar Land Rover, coming to the conclusion that the aid worth €125 million was in accordance with EU rules on state aid, TASR learnt on the same day. "Our probe revealed that the aid was necessary in order to ensure that the Jaguar Land Rover makes its investment in Europe and not in Mexico. We also discovered that the measure would contribute to the creation of jobs and the economic development of a disadvantaged region without inappropriately disrupting the economic competition," stated the Euro-commissioner for Economic Competition Margrethe Vestager. The Commission pointed out that Jaguar Land Rover, owned by Tata Motors Limited India, plans to invest €1.4 billion into the factory in Nitra. Slated to create some 3,000 direct jobs, the factory will produce 150,000 automobiles yearly.