CHANGSHU, China -- Jaguar Land Rover aims to capture 10 percent of China's premium SUV market as its first local plant allows the UK luxury marque to cut prices and boost sales in the world's largest auto market.
JLR opened the 130,000-unit-a-year factory today in Changshu city, about 110km (70 miles) northwest of Shanghai.
The brand's Range Rover Evoque will be its first local production model, according to CEO Ralf Speth. The carmaker plans to build three models in China by 2016, including a Jaguar, he said.
"It's the biggest market on earth," Speth told reporters at an event today to inaugurate the plant. "Overall I'm quite optimistic that China will manage this growth."