JLR gets approval for joint venture in China

JLR gets approval for joint venture in ChinaJaguar Land Rover, a unit of India's Tata motors, has received an approval from the authorities in China for its proposed joint venture with Chery Automobile Company.

The luxury carmaker is preparing for beginning production in China and it has set the foundation stone for a new manufacturing facility in the country. The two companies have received approval from the Chinese government for the joint venture and will now be able to manufacture Jaguar Land Rover vehicles and new models for a joint brand in China.

Chinese authorities approve JLR-Cherry JV

Chinese authorities approve JLR-Cherry JVChinese authorities have cleared the proposed joint venture (JV) between Tata Group firm Jaguar Land Rover (JLR) and Chinese automaker Chery Automobile, a spokesperson of JLR announced.

The National Development & Reform Commission (NDRC) approved the venture seven months after the two partners announced the JV. This is reportedly the fastest endorsement given to any JV in China.

The two manufacturers said that they were now awaiting the regulator's final written confirmation.

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