Jaguar Land Rover announced that it has invested $477 million to upgrade its UK manufacturing facilities. The purpose of the investment is to increase productivity. The luxury automaker is preparing to launch its all-new Range Rover in 170 countries. The new SUV will be for sale in early 2013.

"This outstanding new Range Rover symbolizes our commitment to investing in Britain and exporting around the world, delivering class-leading performance, agility, quality and luxury in a model that enjoys iconic status in almost every market,” said Dr. Ralph Spaeth, CEO of Jaguar. "As the UK's leading automotive investor in R&D we are proud of the work that has gone into developing the new technologies and innovations to make the new Range Rover possible."

Spaeth went on to say that the new model is the world’s first SUV, with lightweight all-aluminum construction, is 20 percent lighter with both fuel consumption and carbon-dioxide emissions reduced by 22 percent.