Jaguar Land Rover discuss JV with Chinese automaker
Jaguar Land Rover discuss JV with Chinese automaker
Soon to start Joint Venture with the Chinese Car Makers, Tata Motors Jaguar Land Rover, the luxury car brand wants to establish themselves in China. The extravagant premium luxury brand is looking for instituting itself in the Chinese auto market which has left US behind and is the numerno uno in the world auto market. Tata Motors owned JLR is in conversation with a Chinese car manufacturer for setting up manufacturing and sales unit in partnership with China. The news was confirmed by a spokesperson from the firm in India. Ratan Tata, the chairperson of the Tata Group, stated, that the brand wants to widen its horizons and China being the biggest auto market has a great potential in the premium car market. They have extensive plan to establish its networks. For the Land Rover wheelers, China has developed as the third biggest market. Tata looking to establish themselves in the China, hopes the sales of Land Rovers to be 20,000 and Jaguar to be 5,000 in 2011. They are also looking forward to assemble the cars in China. Carl Peter Forster, the Chief Executive, was heard quoting that Jaguar Land Rover is looking for a joint venture in China and they are extensively looking for a partner to start the production, assembling and marketing of the luxury car. Foster added that, it does not have a remarkable presence in the Chinese market and the company is keen to enjoy the fruits of the booming Chinese auto market. In 2008, the Indian car giant, Tata Motors acquired the Jagaur and Land Rover from the American auto biggies Ford Motor Co for a sum of $ 2.3 billion. After the successful acquisition of the luxury brand, JLR was not only out of debt but also started running in profit. Reports also suggesr that, there is a rise of 16 per cent in the sales of the Jaguar Land Rover. The luxury brand sales figures for the month of September was 19,528 which is showing an accelerated demand in the market for JLR. Tata Motors is a well known establishment in India manufacturing heavy, light commercial wheelers. They are involved in manufacturing of various products, right from the world's cheapest car Tata Nano to the SUV Tata Safari.