)
Jaguar Land Rover, the profit-driving subsidiary of Tata Motors, India's largest automobile company, has signed a new agreement to provide 100,000 cars to China collectively worth 4.5 billion pounds (Rs 46,000 crore) over the next year.
The JLR deal forms a substantial chunk of business deals totalling 5.6 billion pounds (Rs 57,000 crore) that was struck during the first day of British Prime Minister David Cameron's visit to China.
China, surpassing the United Kingdom, has emerged as Jaguar Land Rover's single biggest market commanding a share of nearly 24 per cent, during the first half of this year. Last financial year too it emerged as the largest market with sales of 79,458 units.
JLR riding on demand surge for luxury cars in China is in the process of setting up a assembly facility in that country. Along with Chery Automobile Company, JLR announced an investment of $1.75 billion to build the new plant, which is expected to get operational by 2014.
JLR chief executive Ralph Speth had stated in August that China is expected to see sales of 100,000 units this financial year. In the first half of the year the two brands clocked little under 46,000 units in wholesales in China.
"Jaguar Land Rover's activities in China indirectly support 38,000 British jobs and China has now overtaken Britain to become its largest market. The technical academy in Beijing has the capacity to train 4,500 people a year – the trainees are technicians, sales consultants and service advisors. It's the second such facility to open in China and will shortly be complemented by a new Academy in Guangzhou", a related release stated.
