British maker Jaguar Land Rover is the latest to ink a deal with a Chinese partner – but with signs the Chinese market may be slowing, the question is whether the move is too little too late.
The new partnership with China’s ambitious Chery Automobile Company will lead to the production of both Jaguar and Land Rover vehicles, as well as powertrains, at a facility in the booming Asian market – which has outsold the U.S. for the last several years.
But the specifics have yet to be announced and will be subject to approval by Chinese regulators – a process that can drag on for some time. Fuji Heavy Industries has been waiting since last year for the go-ahead on a deal that would lead to production of its Subaru line in China. Nonetheless, officials at India’s Tata Motors, which owns JLR, expressed optimism.
“Demand for Jaguar and Land Rover vehicles continues to increase significantly in China and we believe that JLR and Chery can jointly realize the potential of these iconic brands,” Jaguar Land Rover CEO Ralf Speth, said in a statement.