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Chery, Jaguar Land Rover in Joint Venture Talks
Author: Aftermarket Business
Source From: Aftermarket Business
Posted Date: 2010-11-17
Jaguar Land Rover, a UK-based subsidiary of India's largest automobile manufacturer Tata Motors, is currently in talks to form a joint venture with Chinese carmaker Chery Automobile. China-based Geely, in the Zhejiang province, has just completed the acquisition of Volvo and is also being considered as a potential JV partner.
In order to accelerate the establishment of its China joint venture, Jaguar Land Rover has been seeking to poach key executives from luxury car brands such as Porsche and BMW, to set up the Beijing company and to be responsible for strategic planning matters with regard to Jaguar and Land Rover brands.
Both the Jaguar and Land Rover brands have experienced dramatic growth in China. According to the latest statistics, Land Rover sales in China rose 116 percent year on year to 16,149 units during the first nine months of 2010, while Jaguar sales totaled 2,155 units, an increase of 71 percent from the same period as last year.
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