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In an exclusive interview to CNBC-TV18, Jaguar land Rover, chief executive officer, Ralf Speth says, that the company could look at producing smaller engines specifically for emerging markets and India would soon become the hub for JLR.
He also says, the company plans to assemble more cars in India. Currently, JLR assembles Freelander 2 in India. He expects a good demand in China for JLR and the company does not plan to offer any discount in Chinese market.
Below is the edited version of the transcript. Also watch the accompanying video.
Q: You have said that 1.5 billion pounds is what you are going to invest every year, are emerging markets becoming so important to the company? How much of this money can we expect being re-routed into the emerging markets for further R&D?
A: We are heavily investing in R&D, product programme and international expansion. We have started producing Freelander in India. In China, we are in collaboration with Chevy for production and have plans for production in Brazil. Which means, we are re-directing money into emerging markets.
Q: Recently we have seen there has been some sort of a moderation in sales as far as the luxury car market in China is concerned, which has prompted some of the luxury players going out and offering discounts. We have not seen that yet from JLR. What’s your overall take of the Chinese luxury market and will we see JLR offering any kind of discounts on their products in China?
A: China is the third biggest market for Jaguar Land Rover and I am quiet optimistic about China growth.
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