The Tata Motors-owned Jaguar Land Rover (JLR) has signed a fresh deal with China to sell 40,000 cars in 2011. The deal, said to be worth more than £1 billion, comes on the back of an order the company had bagged in 2009 for 13,000 cars valued at that time at £850 million.
A JLR spokesperson here said the new deal was in the excess of £1 billion.
The 2009 deal for 13,000 cars was roughly broken into 3,000 Jaguars and 10,000 Land Rovers, while the new deal comprises 4,000 Jaguars and 36,000 Land Rovers. The original deal to sell 13,000 cars in China that was to be completed in 2011 was done one year ahead of the schedule.
The MoU for the new deal was signed in London in the presence of Chinese Vice-Premier Li Keqiang and UK Deputy Prime Minister Nick Clegg. It was signed by Jaguar Land Rover Chief Executive Officer Ralf Speth and Bob Grace, president of Jaguar Land Rover China.
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