Filed under: China, Plants/Manufacturing, Jaguar, Land Rover, Chery, Tata, Luxury
http://www.blogcdn.com/www.autoblog.com/media/2012/11/chery-jlr-partnership-opt.jpg
While the European auto market for Jaguar and Land Rover is waning, Chinese car buyers can’t get enough of the British marques. To meet that demand, Tata Motors, parent company of Jag and Land Rover, is partnering with Chinese automaker Chery Automobile Co.
The two announced plans to invest $1.75 billion to build a new plant and create a new, China-focused brand. 2014 is the target for completion of the factory. Jaguars and Land Rovers built at the facility will be the first ever produced outside the UK according to the Associated Press. The JV will be called Chery Jaguar Land Rover Automotive Company Ltd.
The announcement comes less than a month after JLR announcedit would open a design studio in China. It’s not clear from the reports whether the two announcements are part of the same JV or two separate plans.
China requires any company wanting to set up domestic production to partner with a local business. By doing so, JLR avoids a 25-percent tariff on imported cars. Chery benefits from a planned research and development center as well as a chance to “really upgrade its capabilities,” according to Bill Russo of Synergistic Ltd. in Beijing.
You can read the official press release below.Continue reading Jaguar Land Rover and Chery investing in Chinese plant
Jaguar Land Rover and Chery investing in Chinese plant originally appeared on Autoblog on Sat, 24 Nov 2012 14:02:00 EST. Please see our terms for use of feeds.
Permalink | Email this | Commentshttp://feedads.g.doubleclick.net/~at/GeH98f2gglf6JhRUTXQ4hj2Cg24/0/di
http://feedads.g.doubleclick.net/~at/GeH98f2gglf6JhRUTXQ4hj2Cg24/1/di
http://feeds.feedburner.com/~ff/weblogsinc/autoblog?i=7N16CNRsQHg:iKYRKOcs50w:wF9xT3WuBAs http://feeds.feedburner.com/~ff/weblogsinc/autoblog?i=7N16CNRsQHg:iKYRKOcs50w:V_sGLiPBpWU
http://feeds.feedburner.com/~r/weblogsinc/autoblog/~4/7N16CNRsQHg