Zigwheels Home

JLR launches JV with Chery Automobile Company in China

by Abhishek Chaliha Posted on 20 Nov 201211,688 Views4 Comments

Jaguar Land Rover (JLR) and Chinese car maker Chery Automobile Company have set up a Joint Venture called the Chery Jaguar Land Rover Automotive Company in China

 

JLR and Chery Automobile Company enter into JV

 

 

Car makers are cashing in on the booming Chinese car market where the luxury car segment is doing particularly well. British luxury car marques Jaguar and Land Rover have recorded an 80 per cent rise in sales up to October 2012, compared to a 60 per cent plus increase in 2011. 

 

To capitalise on the situation, Jaguar Land Rover (JLR) have set up a Joint Venture with Chinese car maker Chery Automobile Company, to establish a manufacturing facility in Changshu near Shanghai, China. The Chery Automobile Company with 15 years of experience in the automobile industry is the largest automobile exporter in China.

 

<
>

 

The two parties will invest nearly $ 1.75 billion (Rs 9619 crore) in the new plant which is expected to be ready by 2014, and will include an engine production facility and a R & D centre. 

 

The joint venture will also result in a domestic brand that will tailor its products for the Chinese car market. The joint venture has been named as the Chery Jaguar Land Rover Automotive Company, by Dr Ralph Speth, Jaguar Land Rover CEO and Yin Tongyao, Chairman and Chief Executive Officer of Chery Automobile Company. 

 

 

JLR and Chery Automobile Company enter into JV

 

 

The joint statement by Dr Ralf Speth and Yin Tongyao, said, "We are delighted to have reached this milestone, achieved thanks to the understanding and foresight of the Chinese authorities and we want to thank them for recognising the potential of our joint venture in the fast growing Chinese market.”

 

The JV will contribute to industrial investment in China,  generate employment and introduce advanced technology and low carbon solutions. Chery’s understanding will give JLR a deeper insight into the Chinese automobile car market while JLR’s heritage and experience as a premium vehicle manufacturer will enable a strong character for the new Chery Jaguar Land Rover Automotive Company.

 

Also read: Tata Motors to invest $1.6 billion more in UK's Jaguar Land Rover

 

 

More on this Car

Post Your Comment

Do you like this story?

Jaguar Land Rover inaugurates new outlet in Bhubaneshwar

by Punam Chavan

The luxury carmaker, Jaguar Land Rover, has...

Jaguar Land Rover plans new facility in Brazil

by Team ZigWheels

Jaguar has signed an agreement with the State of...

JLR signs letter of intent with Saudi Arabia

by Team ZigWheels

The world's largest integrated aluminium...


 
SPECIAL COVERAGE

Datsun Go: Special Coverage

With the Go the Datsun brand once again comes to life and is here to make its place in the...

Hyundai Xcent: Special Coverage

Hyundai has launched its compact sedan, the Xcent, at a smashing starting price of Rs 4.66 lakh...

 

Read Next Story