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It is expected that Jaguar Land Rover will spend around $1.6 billion establishing the Chinese factory and competing with the likes of Volkswagen, BMW and Mercedes.
They released the the Range Evoque special edition which was design collaborated between Victoria Beckham and Land Rover.
The platform of the two joint venture announced that the company would build a new factory in Chang Su in order to be more reliable in continuing its astonishing sales growth in China
Along with the Range Rover Evoque Special Edition, Jaguar Land Rover announced the Jaguar XJ Ultimate, which has rear seating equipment and has business table made of aluminum, along with iPads in the backs of the front seats and a champagne chiller.
2. Why might Chery be an ideal partner for Jaguar Land Rover in China?
Tata after several months of negotiations, had purchased the Jaguar Land Rover from Ford for $2.3 billion.
Jaguar Land Rover had made huge strides in expanding its dealership network across China realizing its potential.
- founded in 1997 with an initial capital of $600 million.
- the first vehicle was produced in December
- They have four sub-brands: namely, Chery, Karry, Riich and Rely.
- in 2009, the company achieved a 40% year-on-year increase in sales.
- for seven years Chery has been the top Chinese vehicle exporter.
The intention is to launch a new version of the Land Rover Freelander at a price comparable with medium-priced luxury cars that is to appeal to the Chinese market on many different levels
The Jaguar Land Rover had an agreement of joint venturing with Cherry, who would be investing an initial $2.78 billion.