Chery Land Rover JV to be based in Jiangsu, valued at 17.5b yuan

Ongoing rumors that the proposed joint venture between Chery and Jaguar Land Rover would be based in Changshu, Jiangsu have finally gained official confirmation from regional authorities. Local media revealed that the Chery JLR joint venture project, which is currently in the authorization phase, will be established in the Changshu Economic and Technological Development Zone, Economic Observer News reported on March 13.

Chery and JLR have yet to officially comment on the news.

Zhang Jianzhong, deputy secretary of the Changshu Economic and Technological Development Zone's Party Working Committee, confirmed the rumors, adding that 17.5 billion yuan ($2.78b) will be invested towards the project. In addition to a new automobile production site, an engine factory will also be built in the area. The JV will reportedly work on developing new energy vehicles and own brand models.

This will be Chery's second joint venture after Qoros Auto, which was established in cooperation with Quantum. Qoros also has a site in Changshu.