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JLR-Chery Auto JV to set up factory in China

Press Trust Of India  |  Mumbai 

Tata motors-owned and are setting up a new manufacturing facility in in a (JV) as part of a 10.9-billion-renminbi investment plan.

and Chery will now accelerate plans to build a manufacturing plant in Changshu, near Shanghai, as part of a 10.9-billion renminbi investment that will also include a new research and development centre and engine production facility,” a (JLR) statement said.

JLR and today formally laid the foundation stone for their new manufacturing facility in China, it added.

The project includes the creation of a new partnership brand to assemble models tailored specifically for the Chinese market, including the marketing and distribution, it added.

“The two plan to complete the Changshu facility in Jiangsu province during 2014,” it said.

The equal partnership will be called Chery Automotive Company.

In a joint statement, Chief Executive Officer Ralf Speth and Company Chairman and Chief Executive Officer Yin Tongyao said, “...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.”

Chery Automotive Company will also produce models for a domestic brand tailored specifically to local customer demand, the statement added.

The sales of Jaguar and Land Rover brands in rose 80 per cent in the first 10 months of 2012. In the 2011 calendar year, saw sales increase more than 60 per cent, driven mainly by the Jaguar XJ and XF models, and strong demand for the fuel-efficient Range Rover Evoque.

is the largest Chinese car exporter and one of the country’s most productive automotive manufacturers.

First Published: Mon, November 19 2012. 00:04 IST