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Luxury auto makers are all flocking to the Chinese market, and Jaguar Land Rover have been lagging behind. Today, they have signed a deal with Chinese automaker Chery to manufacture and sell vehicles in China.
The deal comes after news that Jaguar, and owner Tata motors have been seeking out a deal in the past few weeks.
China is considered one of the largest car markets, and this deal is expected to help boost Jaguar Land Rover sales. The agreement, worth $2.78 Million, is now undergoing a complex approval process.
“This is an important step for JLR and Tata Motors moving forward,” said Vineet Hetamasaria, auto analyst at PINC Research in Mumbai. “Though this is only an agreement, and it will be some time before we see the results.”
The first vehicles expected to be put into production are Land Rovers, and Jaguar vehicles will follow.
We’re wondering if Jaguar is a little too late to the party, since a recent report has indicated that car sales in China have cooled off, dropping 24% in January. Jaguar is clearly thinking that it still has a chance to cash in on the Chinese Market, but the results remain to be seen.
[Source: Automotive News]
General Motors and PSA Peugeot Citroën inked a deal yesterday that will see the companies partnering to further their interests in Europe.
“This partnership brings tremendous opportunity for our two companies,” said Dan Akerson, GM chairman and CEO. “The alliance synergies, in addition to our independent plans, position GM for long-term sustainable profitability in Europe.”
The companies plan to share vehicle platforms, components and modules and to create a global purchasing joint venture that will improve both groups’ leverage in sourcing goods and services from suppliers by commanding $125 billion in purchasing power.
As part of the deal GM will acquire a seven percent stake in PSA Peugeot Citroën.
“This alliance is a tremendously exciting moment for both groups and this partnership is rich in its development potential. With the strong support of our historical shareholder and the arrival of a new and prestigious shareholder, the whole group is mobilized to reap the full benefit of this agreement,” Philippe Varin, chairman of the managing board of PSA Peugeot Citroën said.
The alliance will initially focus on small and midsize cars, MPVs and crossovers, the first of which is expected to launch in 2016.
One of the most successful partnerships in the history of Formula 1 has to be the combination of a Honda engine in a McLaren chassis and body, with Ayrton Senna and Alain Prost behind the wheel. It was the perfect partnership which saw the team win many races and championships.
Over the last 16-years, McLaren has found much success by giving their driver’s Mercedes-Benz power. However, for the last two-years, Mercedes-Benz has been running its own F1 team and rumors started circulating that this will lead to an end to their relationship with McLaren, especially since Mercedes-Benz sold all its shares in McLaren back to the parent company.
With McLaren’s contract coming to an end in 2015 with Mercedes-Benz, much speculation has been circulating on the web and in the paddock as to who will supply engines to the Woking-based team in the future.
This has lead many to speculate that the McLaren-Honda relationship will once again be born, especially since turbo-charged engines are making their way back in Formula 1, and Honda was dominant in the last turbo-era in this sport.
However, McLaren’s managing director Jonathan Neale denies that there has been any contact with Honda. He stresses that McLaren is very well married to Mercedes-Benz for their engines and he sees this partnership continuing into the future.
As for rumors suggesting that Mercedes-Benz might not be giving McLaren its latest motors to give itself an advantage on the track, Neale says he doesn’t think “that’s a concern. ” He goes on to say, “Of course, Mercedes have their own GP team and it’s right and proper that a degree of focus is going to go in that direction, but I was just talking this morning with Thomas Fuhr at Mercedes-Benz – we speak frequently – and we want the same things. It’s in our interest to have consistent engines together because that’s how we get the highest quality.”
The last race of the 2011 F1 season takes place this weekend in Brazil at the Interlagos circuit.