JLR strikes Chinese deal worth 4.5 bn pounds.

Jaguar Land Rover, the profit-driving subsidiary of Tata Motors, India's largest automobile company, has signed a new agreement to provide 100,000 cars to China collectively worth 4.5 billion pounds (Rs. 46,000 crore) over the next year.

JLR riding on demand surge for luxury cars in China is in the process of setting up a assembly facility in that country. Along with Chery Automobile Company, JLR announced an investment of $1.75 billion to build the new plant, which is expected to get operational by 2014.

Business Standard