Jaguar Land Rover (JLR) is close to finalising a joint venture deal with Chinese company Chery Automobile, according to reports in China.
As previously reported by Autocar, Tata-owned JLR has been keen to find a partner in China to both manufacture and sell its vehicles.
Reports by China Business News and news agency Reuters suggest the JLR-Chery deal is focused on manufacturing, and could be officially confirmed later this week.
Under Chinese government regulations, foreign car manufacturers can only build manufacturing plants in China if they sign joint venture deals with indigenous brands. They also have to launch Chinese-market-only sub-brands.
Jaguar Land Rover's deal follows several years of negotiations by the UK-based company with potential partners. Both JLR and Chery have refused to comment, but according to the CBN report the companies have finished discussions and are now seeking regulatory approval to proceed with the joint venture.