Press Report : JLR sign £1bn deal to sell 40,000 cars in China

Automotive News Europe/Reuters, 11th January, 2011

LONDON (Reuters) – Britain and China signed business deals worth around £2.6 billion ($4 billion) on Monday which include increased sales of Jaguar Land Rover (JLR) vehicles to China.

JLR, a unit of Indian group Tata Motors Limited, has committed to sell 40,000 Jaguar and Land Rover vehicles, worth more than £1 billion, in China in 2011. The deals were signed during a visit to Britain by China’s vice premier, Li Keqiang, widely tipped to become the next Chinese premier. Billions of dollars worth of agreements were announced during Li’s visits to Germany and Spain last week.

Joint sales venture

Jaguar Land Rover CEO, Dr. Ralf Speth, said the deal to sell more vehicles in China, the world’s largest car market, “not only signals the acceleration of our growth plans but also reflects both the importance of the Chinese market to Jaguar Land Rover and our value to the UK economy.”

JLR has three British manufacturing plants. Tata Motors said in October JLR was in talks with a Chinese automaker to establish a manufacturing and sales joint venture in China.

The British Government, which hopes private-sector job creation will power economic recovery despite public-sector job cuts, said all the deals would safeguard 700 jobs in Britain.

[Source: Automotive News Europe/Reuters]

Clive Goldthorp

Clive claims that his interest in the BMC>MG story dates back to his childhood in the 1960s when the family’s garage premises were leased to a tenant with an Austin agency. However, back in the 1920s and 1930s, his grandmother was one of the country’s first female Garage Proprietors so cars probably run in his genes! Admits to affairs with Alfa Romeos, but has more recently owned an 06/06 MG TF 135 and then a 15/64 MG3 Style… Clive, who was AROnline’s News Editor for nearly four years, stood down from that role in order to devote more time to various Motor Racing projects but still contributes articles on as regular basis as his other commitments permit.


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