3:56 PM Sajid Yacoob at the Chery Jaguar Land Rover Joint Venture Signing |
Just recently, the Tata Group's Jaguar Land Rover established its very first production unit in China, and JLR Commercial Director Sajid Yacoob was associated with the venture. This signifies the 1st joint project between Chery Automobile, a notable Chinese auto company and the UK automotive giant. Also it possesses incredible implications for the years to come. The complex is set in a 40,000 square meter area and is in the Changshu Economic Development Zone north of Shanghai. Following the plant’s completion in 2014, this £ 1.1 billion joint venture is expected to be a major part of JLR and Chery operations in the coming years. As explaining by Mr. Yacoob, this venture represents a major milestone. Recent years have seen an increase in demand for the Land Rover in China, with one in five of the Land Rover Evoque sold in the mainland. In addition, Mr. Yacoob says China is a fast growing market, which is attracting a number of global OEMs. According to Mr. Yin Tongyao, CEO and Chairman of Chery, the plant has a capacity of 1.1 million units a year, and by 2016 will be able to release three Jaguar Land Rovers. As pointed outing by industry professionals, this joint venture is a "game changer" and will unlock for even more partnerships between Chinese carmakers and European car companies. |
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