Ineos turned over £43 billion in 2017, making a £3.8bn profit. It has plans to invest around £700 million in a chosen site for the Grenadier.
The company has previously stated that it’s open to a number of possible solutions; it could share a facility with another company, convert a used plant or build a new one. “We’d originally said our desire is to build it in the UK, and that remains the case,” Ineos director Tom Crotty told Autocar last year. But the company has also received a number of offers from European sites.
Ineos is still keen to start production in the UK, despite uncertainty over the automotive industry as concerns mount over the possibility of the UK leaving the European Union without a deal.
“We’ve gone into this decision with eyes wide open,” Crotty said when asked about Brexit’s impact. “It really doesn’t have an impact. We think this is a project for the UK that would be hugely beneficial post-Brexit, because we would be exporting 70-80% of the cars we would make.”
Ineos is targeting sales of around 25,000 units per year. The company has previously outlined its vision for the 4×4 to be sold globally but is particularly targeting the US, sub-Saharan Africa and Europe. Prices are set to stick closely to those of the original Defender, which was priced from £25,000.
The ‘Projekt Grenadier’ name references the Grenadier pub in Knightsbridge that’s close to the Ineos office and where plans for the car were first discussed, according to Crotty. The German spelling of ‘project’ is a nod to the nationality of Heilmann.
“We want the best-quality engineering under the skin of this vehicle, hence the nod in this direction,” Crotty said. “We want to remind everyone that what we’re trying to do is make an uncompromising 4×4 with high levels of engineering.”
Much of the design and powertrain options are still to be decided, but Crotty told Autocar last year that it’s likely to have a diesel option, while hybrid and electric technology is being explored.
“We’re looking at a range of options for powertrains,” he said. “Hybrid technology could well be on the cards, especially because it would help with emissions management, but we would want it to retain its off-road values.
“Pure EV is also a possibility. We’re looking at everything and haven’t closed anything off. I’d be very surprised if a diesel option wasn’t part of that.”
Crotty also confirmed that the SUV will have a traditional chassis, rather than a monocoque, and it will be relatively low-tech, unlike Land Rover’s forthcoming Defender replacement, which is due on sale in 2019.
“It will be extremely high-quality and extremely reliable,” Crotty added.
As for styling, Crotty said the SUV will have the “spirit of the Defender” but it won’t be a lookalike. “It won’t be a modern SUV,” he explained. “It will be much more like an old-style, very rugged off-roader.”
Ineos claims to be one of the world’s largest manufacturers, but this will be the first time that it has produced a vehicle.
Crotty accepted that the project is a risk, but maintained that it had the full backing of the company and the team was determined to make the car a profitable success.