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Jaguar Land Rover makes joint venture with China's Chery

 Jaguar Land Rover makes joint venture with Chinas Chery
Land Rover Defender DC100 Concept

Jaguar Land Rover (JLR) has made an agreement with Chery Automobile Company to build and sell its premium luxury brands in China. The agreement represents JLR's efforts to further growth in the world's largest car market which shows high demand for premium sedans and SUVs.

"Demand for Jaguar and Land Rover vehicles continues to increase significantly in China and we believe that JLR and Chery can jointly realize the potential of these iconic brands," JLR CEO Ralf Speth said in a statement.

The joint venture, which Reuters reports is worth 17.5 billion yuan ($2.78 billion), places JLR owner Tata Motors and Chery applying for regulatory approval from the Chinese authorities. Under a newly formed joint venture company, existing JLR vehicles in addition to junior-venture branded vehicles and powertrains will be maufactured and sold.

However, the agreement is only the beginning of a long process that could take years if any approval is given. Currently, a similar situation involving an agreement between Fuji Heavy Industries and Chery to produce Subaru vehicles in China is still pending approval since last year while it is unknown if or when Chinese regulators will approve it.

 

Source: reuters.com

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Comments (10)

 Grey Grey
also dang that Defender concept is oooooglay!!!
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March 22, 2012 7:48 pm
 Grey Grey
Manufacturing the Jags and LR there is like BMW producing the X and Z cars in the United State. As long as they are not using Chery technologies in the design i'm quite ok with it. Although if they started making Jags and LR in China and import them to the US i will be pist! I think those cars are meant to be sell only to the Chinese market... i hope...
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March 22, 2012 7:40 pm
 Pepito060666 Pepito060666
This new generation Desfender looks very promising and I like it, great Job.
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March 22, 2012 6:57 am
 Ivo_205 Ivo_205
Damn that is an ugly car
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March 22, 2012 3:45 am
 zyzyphe zyzyphe
Doesn't that mean that Jag and Land Rover will share their patents and some of its technologies to Chinese? Which might cause future Chinese branded copy cats ?
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March 22, 2012 1:14 am
 16000rpm 16000rpm
JLR You should never have done this.
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March 21, 2012 10:14 pm
 kayutr90 kayutr90
really_that's like duplicating Kia's upcoming concept.
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March 21, 2012 8:21 pm
 THERENAISSANCEMAN THERENAISSANCEMAN
Maybe Chery Automobile has got more resources to legitimately and realistically put this car into production than LandRover can .
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March 21, 2012 7:41 pm
 Dude von Dudenstein Dude von Dudenstein
Maybe Chery wants to sell Chinese copies of Jags and Land Rovers without getting subpoenaed?
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March 21, 2012 12:51 pm
 sideskraper sideskraper
I await the immature idiotic whinging.
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March 21, 2012 12:25 pm