Jaguar Land Rover team with Chinese manufacturer
Warwickshire headquartered Jaguar Land Rover have reached an agreement on a proposed joint venture with China’s Chery Automobile Company Ltd.
The agreement follows extensive talks between JLR and Chery on establishing an equal partnership company, and represents the first foray into foreign markets for the Indian owned manufacturer.
The venture would include production of JLR and JV branded vehicles, establishment of a research and development facility, engine manufacture, and sale of vehicles produced by the JV company.
In a joint statement, Dr Ralf Speth, JLR chief executive officer, and Mr Yin Tongyao, Chairman and chief executive offficer of Chery Automobile Company Ltd, said: “Working together on this proposed joint venture is an exciting prospect for both JLR and Chery.
“Demand for Jaguar and Land Rover vehicles continues to increase significantly inChinaand we believe that JLR and Chery can jointly realise the potential of these iconic brands in the world’s largest car market.
This was posted in Bdaily's Members' News section by Tom Keighley .
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