Jaguar Land Rover, Chery sign China joint venture
World BusinessMar 22, 2012
MUMBAI, India (AP) ― Jaguar Land Rover and China’s Chery Automobile Co. plan to start a joint venture to make and sell luxury vehicles in China, the companies said Wednesday.Jaguar Land Rover, which is owned by India’s Tata Motors, has long wanted to set up shop in China, one of the company’s fastest-growing markets.China accounted for 1 percent of Jaguar Land Rover sales in 2005, but is now its third largest market after North America and the U.K. China sales rose 60 percent in 2011 to 42,000 v