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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Nifty Falls

Nifty Falls

The broader index hits lowest in nearly a week on profit taking  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Debt Investment

Debt Investment

India's FII debt limit hike credit-positive, says Moody's  Full Article 

Reuters India Mobile

Reuters India Mobile

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