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Jaguar Land Rover and Chery waiting for Permission to set up JV in China

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Jaguar Land Rover is awaiting a response from the National Development and Reform Commission regarding a request to develop a potential Chinese joint venture, according to Jaguar Land Rover President Bob Grace. Media reports said the company Jaguar has chosen is very likely to be Chery.

Both Jaguar and its partner have submitted requests to the NDRC. A response is expected by next April. Some in the industry doubt that the proposal may gain official approval, as JLR’s key products are large-engine-sized vehicles, which go against the Chinese trend for smaller and more fuel efficient cars.

Land Rover’s Chinese sales this year have exceeded 33,600 units, 60 percent higher than last year. Meanwhile, JLR’s sales have decreased in its home market of Europe and across the world, with the manufacturer facing increasing competition from Mercedes-Benz, BMW and Volvo. The manufacturer has sold over 40,000 vehicles worldwide so far this year.

Via: ChinaDaily.

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