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Tuesday, 21 February 2012

According to Tata Motors Jaguar Land Rover China selected

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Indian auto major Tata Motors’ owned British premium marquee Jaguar Land Rover (JLR) has been scouting for a Chinese partner since the local laws there require one Chinese partner in operating in the country. Now it has been reported that the company has selected its joint venture partner for manufacturing Jaguar Land Rover cars in China and is awaiting Chinese government approvals to start operations, according to its Chief Financial Officer, C.R. Ramakrishnan.

It was mentioned that Jaguar Land Rover contributed 95 percent of the company's profit in the quarter to end-December, helped by the popularity of its new compact Evoque SUV in emerging markets such as Russia and China. It was also mentioned that the luxury unit, which Tata bought from Ford Motors Co for $2.3 billion in 2008, boasted a profit margin of 20 percent in the quarter, three times that seen by the domestic business.

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