Jaguar Land Rover receives approval for JV with Chery

Jaguar Emblem

Jaguar Land Rover, a subsidiary of Tata Motors Limited (NYSE: TTM), has received approval from the Chinese government for a joint venture with Chery Automobile Company Ltd.

The company is planning a new joint venture car brand with Chery, along with $1.75bn investment in China.

The automaker stated that the new joint venture will ‘assemble models tailored specifically for the Chinese market.’

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