Tata Motors-owned British marquee Jaguar Land Rover is revving up to assemble two more models in India, which will increase its competitiveness in the fast-growing domestic luxury automotive market.
JLR is looking to roll out locally-assembled Jaguar XF sedana and Range Rover Evoque SUV within 12-18 months, a vendor familiar with the matter told ET. The company's India spokesperson declined to comment.
The new offerings will beef up JLR's presence in the segment where German rivals BMW, Mercedes and Audi hold sway. The company currently sells the SUV Freelander 2 assembled at its factory in Chikhale, Maharasthra while the rest of its portfolio comprises completely-built units or fully-imported vehicles.
Assembled cars attract a lower import duty of 10-30%, while imported vehicles are slapped a duty of more than 100%. JLR organised a meeting of vendors last week in Pune, the first time such a meet was held outside Britain, where 20 key vendors from India and 20-30 vendors from UK participated, along with the company's CKD head Mark Wallace, three vendors who were invited said. They added that Ian Harnett, JLR's director-purchasing said at this meet that the company will assemble more products and eye at least 20% market share in the next three years.
"JLR feels India and China will be the key growth drivers in the next five-10 years. Therefore, the company envisages a bigger assembly operation in India and joint venture partner in China to boost its overall growth," a key supplier said, requesting anonymity
Comments
Post a Comment