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The British automaker Jaguar Land Rover opened the first factory in China
Due to the transfer of production to China, the company hopes to reduce prices for products by 15% and, as a result, to achieve sales growth and take 10% of the Chinese car market.
The car company Jaguar Land Rover has opened the first factory in China in hope to occupy 10% of the local market of off-road cars, reports Bloomberg. The plant, which will produce 130 thousand cars a year, is built in Changsha City at 110 km from Shanghai. Due to the new plant Jaguar Land Rover plans to reduce prices for products and increase sales of cars in the world's largest car market.
Previously, all Jaguar Land Rover cars sold in China were manufactured and imported from the UK. The company hopes to reduce prices for products by 15%, moving production to China, which is already the largest market for the company. According to the chief executive officer of the company Ralph Spet, the first model to be produced by the new plant will be the bestseller Range Rover Evoque. By 2016 year in China will be produced three models of cars, including Jaguar.
Land Rover's first plant comes after an investigation by China's antitrust authorities, which put pressure on at least seven foreign automakers to cut prices for products and parts. In June, Land Rover promised to cut prices for three models imported to China by an average of 200 yuan ($ 33). Now the starting price for the imported Range Rover Evoque is 578 yuan ($ 94). The larger Audi Q5 is produced locally and costs less - from 358,5 thousand yuan ($ 58 357).