Friday, December 30, 2011

Jaguar Land Rover to invest £100 million in China factory

Jaguar Land Rover

Jaguar Land Rover is planning an investment of £100 million to build a factory in China, according to the Xiaoxiang Morning Herald newspaper.

JLR CEO Ralf Speth said the company will make 50,000 cars a year in China, with production starting as soon as the carmaker finds a suitable Chinese partner. So far, Chery Automobile has confirmed it has already submitted details regarding a cooperation with JLR to government authorities, with the two manufacturers likely to begin working together soon.

Jaguar Land Rover sold 37,000 vehicles in China in the first 11 months of this year, with most of the sales (32,000 units) being Land Rover cars. According to JLR China senior sales manager Tom Bury, JLR’s sales performance this year exceeded expectations. Growth rates in the Chinese luxury segment are still far above the industry average.

In May this year, JLR owner Tata Motors said it will begin Chinese production of Jaguars and Land Rovers within two years. JLR has since started talks with several automakers in the past, Jiangling, Geely, Changfeng and Great Wall. Finally, JLR agreed a deal with Chery Automobile, China’s best-selling car brand.

JLR wants to introduce 40 new models over the next five years, most of them for China. The UK-based manufacturer will continue to expand its dealer network in China, aiming to have a total of 100 dealerships by the end of the year.


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