Feb. 8, 2012 (China Knowledge) - Top luxury brand Jaguar Land Rover, a British automotive business owned by Tata Motors of India, has applied to regulators for the launch of a joint venture with China's Chery Automobile Co Ltd, the largest private automaker in the country, sources reported.
A person familiar with the matter said the results will be disclosed at the Beijing
Auto Show in April this year.
Paul Chadderton, Spokesperson of Jaguar Land Rover, said the company has been seeking potential partners in China for around two years.
Chery's Spokesperson Jin Ge declined to comment on the news.
Jaguar Land Rover expects China to become Land Rover's second largest market and Jaguar's third biggest market worldwide by the end of March 2012.
In 2011, the British auto maker sold 42,063 vehicles in China, reflecting a year-on-year increase of 61%. Sales of Jaguar in China surged 123% from a year earlier to 5,976 units, while Land Rover's sales totaled 36,087 units, up 54% year on year.