Jaguar Land Rover agreed to form a joint venture with Chery Automobile Co. on Wednesday to manufacture and sell the UK automaker’s luxury vehicles in China, a move which could help revive slipping global sales for the Tata Motors Ltd. unit.
The Chinese automobile market – the world’s largest – is important to Jaguar Land Rover’s efforts to offset wavering demand in its traditional strongholds of Europe and the US.
While economic turbulence has curtailed consumer spending in the West, demand for new vehicles in China and several other emerging markets remains robust.
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(Source: The Wall Street Journal Online)