Arab Today, arab today jaguar land rover said to plan production with chery
Last Updated : GMT 00:00:12
Arab Today, arab today
Arab Today, arab today

Jaguar land rover said to plan production with chery

Arab Today, arab today

Arab Today, arab today Jaguar land rover said to plan production with chery

Beijing - arabstoday

Jaguar Land Rover, the luxury vehicle unit of India’s Tata Motors Ltd. (TTMT), plans to partner with Chery Automobile Co. to build vehicles in China, two people with direct knowledge of the matter said.The companies have applied for regulatory clearance to establish the joint venture, the people said, declining to be identified because the deal has not been finalized. The partnership may be officially announced as early as April at the Beijing auto show, they said.Tata Motors said in May it had shortlisted unidentified partners in China to fuel expansion in the world’s largest auto market. China requires overseas carmakers to work with local manufacturers, who must own at least 50 percent of joint ventures, to set up production. Locally built vehicles are cheaper because they’re not subject to import duties.“It’s a smart move by Tata Motors,” said Juergen Maier, a Vienna-based fund manager at Raiffeisen Capital Management that oversees about $1.1 billion of emerging-market assets, including Tata Motors shares. “It makes sense for Tata to have local production in China as it helps reduce the prices as well as cater supply more closely to the Chinese demand.” Jin Yibo, a spokesman for Wuhu, China-based Chery, said he had “no information to disclose” when contacted yesterday by phone. Paul Chadderton, a Jaguar Land Rover spokesman based in Whitley, England, said there was “no news at this time” on the company’s plans to produce cars in China. China SalesLand Rover deliveries in China rose 63 percent to 17,812, while Jaguar climbed 92 percent in the first half of the fiscal year beginning April 1, the company said in an investor presentation on its website. The company expects China to become the second-largest market for Land Rover, and the third-largest market for Jaguar in the year ending March 31, the presentation said.Chery, the sixth-largest automaker in China, was founded in 1997 and began making cars in 1999, according to the company’s website. Chery assembles passenger cars, commercial vehicles and minivans, the website said.Luxury carmakers are turning to China to boost growth. German luxury-car manufacturers’ sales last year were propelled by demand in China, where they all posted sales gains of at least 30 percent, led by a 65 percent jump for Stuttgart-based Porsche. Audi Chief Executive Officer Rupert Stadler estimated last month that China’s car market will expand about 8 percent in 2012. Majority of RevenueTata Motors paid $2.4 billion in June 2008 to buy the Jaguar and Land Rover brands from Ford Motor Co. (F) and subsequently combined them into a single division. The unit generated 57 percent of Tata Motors’ revenue for the year ended March 31, 2011, up from 53 percent the previous year.Jaguar and Land Rover’s global deliveries rose 45 percent in December, the biggest monthly gain since June 2010, boosted by the new Evoque compact sport-utility model, Tata Motors said last month. Their sales gained 22 percent to 216,412 vehicles in the nine months through December.The Range Rover Evoque, which was introduced in September, was named the North American truck of the year last month in Detroit. It received 32,000 initial orders, John Edwards, Land Rover brand director said in November.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jaguar land rover said to plan production with chery Arab Today, arab today jaguar land rover said to plan production with chery

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jaguar land rover said to plan production with chery Arab Today, arab today jaguar land rover said to plan production with chery

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday