Jaguar Land Rover UK factory saved
The manufacturer had been deciding whether to close the Castle Bromwich, Solihull or Halewood site, but now says a deal with unions means all its UK factories will remain open.
The deal gives workers a 5% pay rise in November and at least 3% more 12 months later.
The company has also started recruiting 1500 new workers to build the Evoque at Halewood, but the union deal means thousands more are secure.
Jaguar Land Rover boss Dr Ralf Speth said: 'Our parent company Tata supported us through the recession and our employees also made sacrifices. Now we are seeing a great turnaround in the business and everyone involved will benefit from this agreement.'
Trade unions are unanimously recommending the deal to their members, which should make its acceptance a formality.