With China’s growth still surging ahead (although not quite as fast as it has been), many Western companies are keen to take a piece of the pie. Now JLR and Chery, its Chinese partner, have agreed a joint £1.1bn investment to build a new factory just outside Shanghai.
The new plant will feature a research centre and a facility producing engines, which are normally shipped in to factories from elsewhere. JLR’s owner, Tata, already owns a JLR assembly operation in India, but the Chinese venture will be the first fully-fledged overseas production operation.
In its most recent results, JLR posted a 58% Q2 growth in sales in China compared with the same period in 2011, with a massive portion of the growth coming from the popularity of the new Range Rover Evoque.