Britain’s Jaguar Land Rover and China’s Chery have announced a joint venture for China.
In a statement the two companies said the joint venture will result in Chinese manufacturing of Jaguar Land Rover vehicles, engine manufacturing, research and development and vehicle sales.
While it’s early days, Jaguar Land Rover CEO Dr Ralf Speth said: Working together on this proposed joint venture is an exciting prospect for both Jaguar Land Rover and Chery. Demand for Jaguar and Land Rover vehicles continues to increase significantly in China and we believe that Jaguar Land Rover and Chery can jointly realize the potential of these iconic brands in the world’s largest car market. 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.”
