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

RBI Policy Review

RBI Policy Review

RBI keeps rates on hold, warns on inflation  Full Article 

Monsoon Season

Monsoon Season

India's 2014 monsoon ends with double-digit rain deficit .  Full Article 

Cleanliness Drive

Cleanliness Drive

Modi orders officials to clean loos on Gandhi's birthday.  Full Article 

Bid to Boost Trading

Bid to Boost Trading

RBI takes small steps to deepen markets.  Full Article 

Car Recall

Car Recall

Maruti Suzuki says to recall 69,555 cars.  Full Article 

China Factory Data

China Factory Data

China final HSBC PMI steady in September on stronger global demand but risks remain  Full Article 

Oil Demand

Oil Demand

India's thirst for oil grows even as China cuts back  Video 

EBay Divests PayPal

EBay Divests PayPal

EBay to spinoff PayPal in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

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