Jaguar Land Rover has shelved plans to close one of it plants in the UK, safeguarding thousands of jobs.
In September, the car firm announced it would close either its Land Rover factory in Solihull, which employs 5,000 staff, or its Castle Bromwich plant, which employs 2,000 people.
Following improved trading, Tata Motors, the owner of Jaguar Land Rover, has now had a rethink on the closures, the Guardian has reported.
Sources told the newspaper that no closure was imminent, and the decision had been put on hold for at “least a year”.
Howard Wheeldon, a senior strategist at BGC Partners, said: “The outlook for Jaguar Land Rover as one of the UK’s principal car exporters is extremely good.”