Photo: Jaguar Land Rover
After a long search for the right partner to build cars in China, Jaguar Land Rover has today announced official details of a new joint venture with local automaker Chery Automobile. The equal partnership company will not only make JLR vehicles, but also re-branded ones.
It’s not yet clear when the JV will start making cars and SUV, as Chinese authorities are slow to make the necessary regulatory approvals.
"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 in China and we believe that JLR and Chery can jointly realise the potential of these iconic brands in the world's largest car market,” in a joint statement, Dr Ralf Speth, JLR Chief Executive Officer, and Mr Yin Tongyao, Chairman and Chief Executive Officer of Chery Automobile Company Ltd, said.
"Our ambition is to leverage the respective strengths of our two businesses - in research and development; technological innovation; manufacturing excellence and local consumer knowledge- to offer Chinese customers the most advanced, highly efficient products featuring the very latest technologies," the joint statement adds.
"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 in China and we believe that JLR and Chery can jointly realise the potential of these iconic brands in the world's largest car market,” in a joint statement, Dr Ralf Speth, JLR Chief Executive Officer, and Mr Yin Tongyao, Chairman and Chief Executive Officer of Chery Automobile Company Ltd, said.
"Our ambition is to leverage the respective strengths of our two businesses - in research and development; technological innovation; manufacturing excellence and local consumer knowledge- to offer Chinese customers the most advanced, highly efficient products featuring the very latest technologies," the joint statement adds.
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