Jaguar seeking joint venture with China partner
By Steph, 26 Oct, 2010. 0 Comments
2011 Jaguar XKR Speed Black Pack
Talks are ongoing for Tata Motors Ltd.’s Jaguar Land Rover unit to get a possible partner in China, according to Tata group CEO Carl-Peter Forster who spoke on the sidelines of a forum in Shanghai last Sunday. Tata didn’t set a timetable on when it expects to reach a deal. It isn’t only Tata that is considering teaming up with a Chinese partner. Automakers such as Volkswagen AG and General Motors Co. are also looking to increase capacity in China as rising incomes and a growing economy boost sales in the world’s largest auto market.
Tata’s expansion plan in China is part of a campaign to raise Jaguar sales in emerging markets. Forster, who is also managing director at the Mumbai, India-based carmaker, revealed that Jaguar Land Rover will introduce hybrid cars to the market “over the next couple of years.”
Foster admitted that customers throughout the world have been slow in buying such cars. Forster said that Tata has received a lot of interest overseas for Nano, the world’s cheapest car. But so far, Tata has not decided on its export markets. Forster said that Tata has been receiving “certainly more interest than [it] can satisfy.” Forster also took the chance during the forum to disclose that it expects India’s auto market to increase to about 8 million units a year by 2020. [via autonews - sub. required]
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