Jaguar Land Rover close on Chinese deal
JLR and Chery are on the brink of signing a deal that will allow the British company to make and sell Jaguars and Land Rovers in China. Chinese regulations state that in order to tap into the lucrative luxury car market, Jaguar Land Rover needs to co-own a ‘domestic’ brand.
Speth would not elaborate on precise details of the deal, or the new brand and product that could emerge from it. However, he conceded that ‘it has to be a serious product’ which would be both popular and profitable in China.
It’s unlikely that this new car will be sold in Europe but it could be exported to other developing markets, such as India and Brazil.
Speculation suggests that the new JLR Chery vehicle will be an eco-model, specifically a full EV, because such cars are becoming increasingly popular in China.
The tie-up could also resurrect one of Jaguar Land Rover’s dormant brands, such as Daimler or Lanchester. JLR’s parent company, Tata, also owns the rights to the Rover name.