Dismiss Notice
Welcome to IDF- Indian Defence Forum , register for free to join this friendly community of defence enthusiastic from around the world. Make your opinion heard and appreciated.

Tata Motors select China partner for Jaguar and Land Rover plant

Discussion in 'World Economy' started by SpArK, Feb 25, 2012.

Thread Status:
Not open for further replies.
  1. SpArK

    SpArK SorCeroR Staff Member ADMINISTRATOR

    Joined:
    Apr 1, 2010
    Messages:
    4,159
    Likes Received:
    2,111
    Tata Motors select China partner for Jaguar and Land Rover plant






    MUMBAI: India's top vehicle maker Tata Motors has selected a partner to build an assembly plant for its luxury British car brands Jaguar and Land Rover in China, a senior executive said on Tuesday.

    "We are waiting for the necessary regulatory approvals," Tata Motors finance chief C Ramakrishnan told reporters, without giving any further details. "An announcement will be made very soon," he added.


    China has emerged as a key market for Jaguar and Land Rover ( JLR), whose sales in Europe remain weak due to the current economic uncertainty.

    Earlier this month, Tata Motors announced a 41 percent jump in quarterly net profit of 34.06 billion rupees ($681 million) for the three months to December, thanks to strong sales of Jaguar and Land Rover. Tata Motors, which also makes the world's cheapest car, the Nano, bought Jaguar and Land Rover from US Ford Motor Co in 2008 for $2.3 billion as part of its plans to expand beyond Asia.

    In recent years India and China have emerged as key markets for global automakers, as car sales in most developed countries have slumped. Government stimulus packages, along with cheap financing and new models, have helped drive demand among increasingly well-off consumers in India and China.


    Tata Motors select China partner for Jaguar and Land Rover plant - Economic Times
     
Thread Status:
Not open for further replies.

Share This Page