"JAGUAR" WILL DO IN CHINA

Jaguars will do in China

PRC authorities have approved a plan to create a joint venture between the British automobile concern Jaguar Land Rover and the Chinese company Chery. This is the first production of the traditional British cars abroad.

The new plant, which is being built adjacent to Shanghai, should start producing cars in 2015. The project cost is estimated at 1 Millard pounds (about 1.59 billion U.S. dollars).

It is believed in the BBC, the British automaker has taken this step in view of the growing importance of the Chinese market: in 2012, sales of brands Jaguar and Land Rover in China grew by 80% and sales figures have bypassed both in Britain and North America.

The company Jaguar Land Rover already has one plant in India, but there is only a screwdriver manufacturing - assembly machines from ready-made kits shipped from the UK.