JLR and Chery have signed Letter of Intent to strengthen its 12 year old collaboration. Under this collaboration Chery, who already has its strong presence in China will bring its technology and product development, while JLR will bring its design and brand development. This JV will manufacture an advanced portfolio of EVs based on Chery’s EV architecture, exclusively under the Freelander name, the company stated.
Reviving of Freelander
JLR’s Freelander which was produced from 1997-2015, later discontinued is going to be reborn independent from both JLR and Chery’s existing portfolio. For the time being it will be sold in China however, later it will be globally exported.
China is one of the biggest EV markets with its inborn brands such as BYD, Nio, and Li Auto. In this market JLR is aiming to create its space in the premium car manufacturer segment with the help of Chery. In FY24, JLR China has achieved a strong performance for its import and domestic business. JLR will be focusing on implementing a house of brands to provide modern experience and enhance the local user experience. To maximize the local opportunity in China the company is going to leverage the country's resources, engineering tools, and supply chain.
JLR’ EV Portfolio expansion plans
The company is going to launch three new BEVs this year with the BEV propulsion developed in-house. The company also targets 10% EBIT margin in FY26 through its addressing of transition to BEV through MLA(Modular Longitudinal Architecture) and focusing on Halo products. It is also planning to launch multiple electric vehicles and to expand its retail in the US and UK in the coming years.
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