Tata Motors, the largest and one of the most diversified car makers in the Indian market, has selected the local partner of its British luxury car making subsidiary Jaguar & Land Rover (JLR) plant in the Chinese market. The company plans to establish an assembly plant in China with this newly selected Chinese partner.
It is to be mentioned here that China has emerged as a major sales driving market for Jaguar & Land Rover in past few years, following its acquisition by Tata Motors in year 2008. At the same time, JLR’s sales in its base market Europe have been slumping continuously due to ongoing economic slowdown.
Speaking to the reporters on Tuesday, Mr. C Ramakrishnan, Tata Motors finance chief, said, "We are waiting for the necessary regulatory approvals. An announcement will be made very soon."
Meanwhile, Tata Motors has registered a jump of 41 percent in quarterly net profit to 34.06 billion rupees ($681 million), for the quarter ended on December 2011. JLR remained a major contributor in the company’s sales during this quarter, registering heavy growth in the markets like India and China.
