Sept 21, 2012
Economic Observer Online
By Yang Xiaolin (杨小林)
Translated by Zhu Na
Original article: [Chinese]

 
A 12 billion yuan joint venture between Chery and Jaguar Land Rover has been approved by the National Development and Reform Commission, a reporter from the Economic Observer learned yesterday.  

A number of senior managers from Chery Automobile Co Ltd and other individuals connected to the joint venture confirmed the news.

"We've learned from the relevant channel that Chery and Jaguar Land Rover’s joint venture project has been approved, but the formal approval hasn’t yet been announced on the NDRC website," an individual from Chery Automobile confirmed with the EO yesterday.

According to an environment review report submitted by Chery and Jaguar Land Rover in April this year, the joint venture factory will be built in the city of Changshu in Jiangsu Province, not too far from Shanghai.

The two companies will invest a total of 12 billion yuan to build the plant which will be capable of producing 130,000 vehicles a year.

A branch of the Changshu Land and Resources Bureau recently announced that the joint venture project had also been given approval by the Ministry of Land and Resources to be constructed on an 81 hectare plot of land.