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Chery, Jaguar Land Rover to set up Changshu venture

28 March 2012
Leading Chinese carmaker Chery and Indian-owned luxury carmaker Jaguar Land Rover have reached agreement to set up a 50-50 joint venture in the Yangtze port city of Changshu, Jiangsu province.

The scope of the proposed joint venture will include vehicle and engine manufacture and the establishment of a research and development facility. The new venture plans to produce Land Rovers and Jaguars as well as vehicles bearing the JV’s own brand. The first vehicle will roll off production lines in the middle of 2014, with annual output anticipated to reach 180,000 units by 2018

Chery was founded in 1997 and has since become one of China’s largest and automotive manufacturers. Its passenger cars and SUVs are exported to more than 60 countries. In 2011, Chery recorded sales of 643,000 units, ranking sixth among China’s passenger vehicle manufacturers.

     
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