Jaguar Land Rover has announced that it is to build vehicles in China for the first time, in what is considered a very strategic move.
The British luxury car manufacturer has entered into a “milestone” partnership with Chery Automobile, which is said to be worth around £1 billion.
A factory will be built in Shanghai by 2015, which will complement its current output – the company said it has no plans to move any manufacturing out of the UK.
“We are delighted to have reached this milestone, achieved thanks to the understanding and foresight of the Chinese authorities and we want to thank them for recognising the potential of our joint venture in the fast-growing Chinese market,” a joint statement read.
China is proving to be a lucrative market for the high-end car manufacturer. In the second quarter of 2012 alone, it has posted a 58 per cent increase in sales in the country. This has principally been driven by demand for its new Range Rover Evoque model.
Cadogan Tate can help professionals moving to China with international removals.