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JLR and Chery Automobile Company, partners in the Chery Jaguar Land Rover (CJLR) joint venture, have signed a Letter of Intent to focus on electric vehicles (EVs) for the Chinese market.
This new collaboration leverages Chery's strong position in China and JLR's design expertise. The CJLR joint venture will produce a range of electric vehicles under the Freelander name, which will be reborn under a licensing agreement with JLR. This new lineup will be entirely electric, leveraging Chery's existing EV architecture. Production will take place at CJLR's Changshu facility.
The Freelander EVs will exist alongside CJLR's current models, marking a new chapter for the joint venture. These electric Freelanders will be sold through a separate dealer network within China, with the potential for future global exports.
This collaboration positions them competitively within the booming Chinese electric vehicle market.
JLR is a wholly owned subsidiary of Tata Motors, which is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
Tata Motors reported a consolidated net profit of Rs 17,528.59 crore in Q4 FY24, steeply higher from Rs 5,496.04 crore posted in Q4 FY23. Revenue from operations increased 13.52% YoY to Rs 1,19,213.35 crore in the quarter ended 31 March 2024.
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