Chinese company to buy Jaguar Land Rover plant, report says
Ningbo Huaxiang Group, a private auto interiors supplier located in east China's Zhejiang province, is set to acquire Jaguar Land Rover's interior production facility in England later this month, reports an official newspaper in Zhejiang.
Huaxiang subsidiary Lawrence Automotive Interiors (LAI), will make the purchase, reports Zhejiang Daily. Lawrence Automotive is headquartered in Nottingham, England.
The purchase is expected to be completed in July. Huaxiang will pay 15 million pounds (156 million yuan), the newspaper reports.
Located in Coventry, England, the plant supplies both wood and carbon fiber interior panels to Jaguar and Land Rover vehicles, according to the newspaper.
If completed, the plant will be Huaxing's second acquisition in the United Kingdom. In 2006 it acquired LAI, a luxury car interior supplier.
The acquisition of Jaguar Land Rover plant will further strengthen Huaxiang's ability to supply luxury brands, says the newspaper.
In China, Huaxiang mainly supplies automakers operating in eastern China, including Shanghai Volkswagen Automotive Co., Shanghai General Motors Co., the Nanjing plant of Changan Ford Nanjing Co. and Chery Automobile Co.
