Jaguar, Chery start construction of new car factory in China

LONDON Sun Nov 18, 2012 8:33pm IST

The new Range Rover Evoque is seen at the Jaguar-Land Rover exhibition booth during the International Motor Show (IAA) in Frankfurt, September 14, 2011. REUTERS/Alex Domanski/Files

The new Range Rover Evoque is seen at the Jaguar-Land Rover exhibition booth during the International Motor Show (IAA) in Frankfurt, September 14, 2011.

Credit: Reuters/Alex Domanski/Files

Related Topics

Stocks

   

LONDON (Reuters) - Jaguar Land Rover and Chery Automobile said on Sunday they had laid the foundation stone for a new car factory in Changshu, China, near Shanghai.

The move had been expected after the partners recently won Chinese regulatory approval for the joint venture to make Jaguar Land Rover (JLR) vehicles and new models for a partnership brand in China.

The deal marks the latest effort by JLR, which is controlled by India's Tata Motors Ltd (TAMO.NS), to expand its appeal in the world's largest auto market, where luxury sedans and SUVs remain in hot demand even as the overall car market cools.

It will also help raise the profile of Chery, a mass volume player aspiring to gain access to the lucrative upscale segment dominated by foreign brands.

(Reporting by Ben Hirschler; Editing by David Cowell)

FILED UNDER:

Telecom

Reuters Showcase

Insurance Bill

Insurance Bill

Opposition support bolsters prospects for insurance reforms  Full Article 

SBI Share Sale

SBI Share Sale

SBI's up to $2.4 billion share sale likely by end April - sources   Full Article 

Eicher Share Sale

Eicher Share Sale

Truck maker Volvo sells shares in Eicher Motors  Full Article 

Beef Ban

Beef Ban

After beef ban, Hindu groups force abattoirs to close   Full Article 

Monsoon Season

Monsoon Season

Exclusive - India expects better monsoon rains this year  Full Article 

Services Growth

Services Growth

Services growth at eight-month high in Feb - HSBC PMI  Full Article 

'India's Daughter'

'India's Daughter'

Documentary on 2012 Delhi gang rape banned in India  Full Article 

Capex Slashed

Capex Slashed

Cairn India slashes 2015-16 capex on falling crude   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage