In a further indication of its global ambitions Jaguar Land Rover (JLR) has announced a tie up with Chery Automobile Company Ltd on a proposed joint venture in China.
The agreement follows extensive talks between JLR and Chery on establishing an equal partnership company. The scope of the proposed joint venture (JV) would include manufacture of JLR- and JV-branded vehicles; establishment of a research and development facility; engine manufacture; and sale of vehicles produced by the JV company.
JLR is a latecomer to Chinese production compared to its arch German rivals who have seen sales boom in China in recent years. However, both Jaguar and Land Rover are enjoying record sales in China. Last year the two brands sold 42,000 cars a 60% increase over 2010 underscoring China as JLR’s third largest market after the UK and US.
Earlier this month, JLR’s managing director, Ralf Speth revealed they were also in discussion with several Brazilian companies about establishing a South American JV.
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