If an agreement between JLR and Chery run smoothly, the new company will be selling Jaguar and Land Rover and engines in China are given a new brand, including setting up research and development facilities.
"The demand for Jaguar and Land Rover vehicles continued to experience significant increases in China and we are confident that JLR and Chery to jointly realize the potential of these ikonk brands," says Ralf Speth JLR CEO and chairman of Chery Yin Tongyao.
DIVISION premium of Tata Motors-Jaguar Land Rover has signed a joint venture agreement with Chery to sell cars in China. Nevertheless, this agreement was not final because it must wait for approval of the government of China.
Last December, the National Reform and Development Commission (NRDC) and the China Ministry of Commerce said that they would stop the influx of foreign investment in the automobile manufacturing industry for the development of a healthier market.
