The firm, which employs about 40,000 people in Britain, also said it will begin producing electric drive units at its Wolverhampton engine plant and will create a new battery assembly center at Hams Hall near Birmingham as it develops a greener range of cars.
"We are taking decisive action to help deliver long-term growth in the face of multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry," said Chief Executive Ralf Speth.
(Reporting by Costas Pitas; editing by Stephen Addison)
