Chinese LR?
Posted: Fri Mar 23, 2012 5:28 pm
Pinched this from amother sire, thought might be of interest the expectations of the LR brand:
JLR Completes Chinese Car Venture with Chery
Tata Motors Ltd.'s JLR unit has finalized its 50:50 joint venture with Chery Automobile Co. to make Jaguar- and Land Rover-branded cars and SUVs in China by 2017. The partners also plan to launch a new China-specific brand.
The deal awaits the approval of China's National Development and Reform Commission. JLR, like other luxury brands, is keen to establish local production to avoid hefty taxes on imported vehicles.
The combined investment by the companies could reach as much as 18 billion yuan ($3 billion) over five years, according to Bloomberg News, which cites unnamed sources. They say each company would spend about $1 billion to build a vehicle-assembly and engine complex and launch the new brand. The partners would spend the balance on product development and an R&D center.
Tata expects that this spring China will become Land Rover's second-largest national market (after the U.S.) and Jaguar's third-largest market (after the U.K. and U.S.).
Cheers
ted
JLR Completes Chinese Car Venture with Chery
Tata Motors Ltd.'s JLR unit has finalized its 50:50 joint venture with Chery Automobile Co. to make Jaguar- and Land Rover-branded cars and SUVs in China by 2017. The partners also plan to launch a new China-specific brand.
The deal awaits the approval of China's National Development and Reform Commission. JLR, like other luxury brands, is keen to establish local production to avoid hefty taxes on imported vehicles.
The combined investment by the companies could reach as much as 18 billion yuan ($3 billion) over five years, according to Bloomberg News, which cites unnamed sources. They say each company would spend about $1 billion to build a vehicle-assembly and engine complex and launch the new brand. The partners would spend the balance on product development and an R&D center.
Tata expects that this spring China will become Land Rover's second-largest national market (after the U.S.) and Jaguar's third-largest market (after the U.K. and U.S.).
Cheers
ted