Jaguar and Land Rover have confirmed the Chinese government has approved their joint venture with Chery Automobile.
To celebrate the creation of the new "Chery Jaguar Land Rover Automotive Company Ltd," the three companies laid the foundation stone for their new manufacturing facility in Changshu. The plant will be part of a 10.9 RMB ($1.7 / €1.4 / £1) billion investment that also includes a new research and development center as well as an engine production facility.
The plant is scheduled to be completed in 2014 and will build Jaguar and Land Rover models as well as vehicles for a new Chinese-focused brand. Details are limited, but Chery CEO Yin Tongyao said "Together, we will now begin working in close collaboration on our partnership plans to harness the capabilities of our respective companies, to produce relevant, advanced models for Chinese consumers." Despite the generic statement, previous reports have indicated the brand could sell a rebadged version of the Freelander (aka LR2).