JLR seals China deal for electric Freelander
Luxury car maker Jaguar Land Rover has signed a new deal with Chinese manufacturer Chery to build their next electric Freelander models in China.
The company says the deal is an example of a “new model of collaboration” which “leverages fully both parties’ complementary strengths”.
Chery holds a leading automotive market position in China while JLR has “unrivalled heritage and design strength” the company said.
Under the proposed new licensing agreement, the CJLR Joint Venture will pivot to produce an advanced portfolio of electric vehicles based on Chery’s EV architecture, exclusively under the Freelander name.
Freelander will become a brand made under license from JLR as part of the deal which will be independent from both Chery’s existing portfolio and JLR’s modern luxury House of Brands.
The Indian-owned manufacturer has production plants at Halewood in Merseyside and Solihull and Castle Bromwich in the West Midlands.
Adrian Mardell, JLR’s chief executive said: “Today we are taking this important strategic step for JLR, one which underlines our ongoing commitment to China and complements our existing business in China. We believe that working together to develop new models of collaboration for the world’s largest and fastest-growing electric vehicle market, combined with the appeal of the Freelander brand, promises a very exciting future for CJLR.”
Last month theBusinessDesk.com reported that the luxury car maker racked up annual revenues of £29bn, a 27% improvement on the previous year, as well as record fourth quarter sales of £7.9bn, respectively.
The car maker achieved a £2.2bn pre-tax profit, its highest since 2015, in the year to March 31, 2024.
