Posts Tagged ‘joint venture’
Chery-Jaguar Land Rover plans to make 130.000 cars in China from 2014
Published on May 18, 2012 by Tycho de Feyter
More details have emerged on the Chery-Jaguar-Land Rover joint venture. Chery and JLR reached an agreement on the joint venture in March and are now waiting for the final approval by the Chinese government. The plans are impressive and include an engine plant which will make engines especially for the Chinese market.
Production will start in 2014. Initial capacity of the car factory will be 130.000 cars annually, by 2020 capacity will reach 250.000 cars. In 2014 the joint venture plans to build 34.000 Range Rover Evoques, 43.000 Range Rover Freelanders and 23.000 Jaguar ‘sedans’, which type or types is yet unclear.
Brilliance-BMW planst to sell 150.000 cars in China this year
Published on April 5, 2012 by Joey Wang
The Brilliance-BMW joint venture plans to sell 150,000 BMW sedans in 2012, up 40% compared to 2011. Brilliance-BMW sold 108,190 BMW sedans in 2011, up 53,5%, outclassing China’s passenger car sales rise of 5.2%.
“I believe sales in China’s luxury car market should rise 15 to 20 percent this year as this segment is still small in China and more consumers are chasing for premium brands,” chairman Wu Xiaoan told reporters at a results briefing. “We will grow faster than the market.”
Fiat to make 170,000 cars a year in China
Published on April 5, 2012 by Joey Wang
Fiat and Guangzhou Automobile will begin selling the first car made under their joint venture in China in the second half of 2012 at a plant with a capacity to make up to 170,000 units a year, the head of the Italian automaker said Wednesday.
“That will be the first phase,” Fiat Chief Executive Sergio Marchionne said at the automaker’s annual shareholders assembly in its hometown in northwestern Italy, referring to the number of vehicles to be produced.
Geely hopes to get Approval for Volvo JV in H1
Published on March 23, 2012 by Joey Wang
Zhejiang Geely Holding Group Co Ltd, parent of Geely Automobile Holdings Ltd, hopes to receive government approval for its joint venture with Volvo Car in the first half of 2012 so production can start next year, Vice President Daniel Li said.
“We believe the joint venture will be approved,” Li told reporters on Thursday after Geely Automobile’s results briefing. Li, who is also a board member of Volvo Car, said he hoped sales of China-made Volvo cars could be launched in 2013.
Jaguar Land Rover and Chery agree joint venture in China
Published on March 22, 2012 by Joey Wang
Jaguar Land Rover has clinched a joint venture deal with China’s Chery Automobile in a move that promises to boost sales in one of its fastest-growing markets. Sales of JLR’s sleek saloons and powerful SUVs in China have boomed in recent years as luxury cars remain in demand, even as the overall market cools.
Jaguar Land Rover and Chery agree on new joint venture in China
Published on March 12, 2012 by Joey Wang
British off-road icon Land Rover plans to join the ranks of global automakers making vehicles in China by partnering with Chery Automobile Co Ltd in a joint venture. Local media reports said the partnership will be based in the Changshu Economic and Technological Development Area in Jiangsu province.
Both sides have reached agreement on the new venture and are now awaiting approval from the National Development and Reform Commission, China’s top economic planner, sources familiar with the issue told reporters.
Jaguar Land Rover, Chery seek approval for joint venture in China
Published on March 6, 2012 by Joey Wang
Jaguar Land Rover and Chery Automobile Co are seeking regulatory approval for a 17.5 billion yuan ($2.78 billion) car venture in eastern China, two people with direct knowledge of the deal told Reuters on Monday.
The deal marks Jaguar Land Rover’s latest effort to expand its appeal in the world’s largest auto market where luxury sedans and SUVs remain in hot demand even as the overall car market cools.
Ford faces hurdles in China
Published on February 29, 2012 by Tycho de Feyter
Ford Motor is facing stiff industry wide regulatory obstacles to future growth in China, even as the auto maker launches a $490 million plant to boost its presence there.
The plant opened Friday in the southwestern Chinese city of Chongqing—its third passenger-car plant and fourth overall assembly plant in China—will give it much-needed capacity to help propel sales. Ford lags far behind General Motors Co. and other global rivals in penetrating China’s market, the world’s biggest in the number of vehicles sold.
Geely and Volvo wait for approval for joint venture in China
Published on February 27, 2012 by Tycho de Feyter
Even though it was sold to a Chinese automaker in 2010, Volvo Cars will have to form a 50-50 joint venture with new owner Geely to meet government requirements on local production, according to a senior executive of the Swedish carmaker.
Volvo has applied as a foreign brand for permission to build cars locally, so it must meet prerequisites that include a local partner, R&D facilities and developing a new brand owned by the joint venture, said Freeman Shen, senior vice-president of Volvo Cars and chairman of Volvo’s China operations.
Volvo sets up joint venture with its owner, Geely
Published on February 21, 2012 by Tycho de Feyter
Volvo Car will form a carmaking venture with majority shareholder Zhejiang Geely Holding Group Co., as part of plans to expand in the world’s largest vehicle market. Volvo will announce “concrete details” about the joint venture in about two months, Michael Ning, a Beijing-based spokesman for the company, said in a phone interview today.
