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Jaguar Land Rover and Chery Formalise Joint Venture in China

Jaguar Land Rover and Chery Formalise Joint Venture in China

Jaguar Land Rover (JLR) and Chery, the British and Chinese car makers, will be setting up a joint venture plant in China. This past Sunday the companies formally laid the foundation stone for their new manufacturing facility in China. The investment is said to be worth 10.9 billion RMB.

The new plant, built in Changshu, near Shanghai, will manufacture JLR vehicles as well as new models for a partnership brand in China, as well as host an R&D facility and an engine production facility. The two companies plan to complete construction of the new plant during 2014.

The joint venture will blend together the heritage and experience of luxury premium vehicle manufacturer Jaguar Land Rover with the intricate knowledge and understanding of Chinese customers evident at Chery.

In a joint statement, at Sunday’s press conference in Jiangsu, Dr. Ralf Speth, Jaguar Land Rover Chief Executive Officer, and Mr Yin Tongyao, Chairman and Chief Executive Officer of Chery Automobile Company Ltd, said: “We are delighted to have reached this milestone, achieved thanks to the understanding and foresight of the Chinese authorities and we want to thank them for recognising the potential of our joint venture in the fast-growing Chinese market. Together, we will now begin working in close collaboration on our partnership plans to harness the capabilities of our respective companies, to produce relevant, advanced models for Chinese consumers.”

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