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Jaguar Land Rover and Chery form joint venture
Date Listed: 27/03/2012
Jaguar Land Rover and Chinese Company Chery Automobile Co Limited are reported to have signed a deal to work together manufacturing and selling vehicles in one of the largest automotive markets in the world - China. Although not officially confirmed, it is thought that the venture will start with the manufacturing of dual branded vehicles, followed by the manufacture of JLR branded cars, as well as the establishment of a research and development facility.
Under Chinese government regulations, foreign car manufacturers must sign a deal with native brands, in addition to launching Chinese only sub brands into the market, in order to build cars in the country. The Chinese government will still have to give the deal the go-ahead before it becomes official.
The demand for these vehicles is expected to be high; China has become Jaguar Land Rover’s third largest market overall, with the Land Rover as its most popular vehicle.
A further statement outlining the details of the venture is expected to be announced nearer the time.