Jaguar Land Rover Counts Damages From China Blasts
August 21 2015 - 9:07AM
Dow Jones News
By Santanu Choudhury
NEW DELHI-Jaguar Land Rover Automotive PLC said Friday that most
of the 5,800 luxury vehicles it had parked near the site of an
explosion last week in the Chinese port city of Tianjin may have
been damaged.
Tianjin is one of the three main Chinese ports through which JLR
imports vehicles, the unit of India's Tata Motors Ltd. (500570.BY)
said. The company said it is unable to quantify the exact number of
vehicles affected due to restrictions in accessing the port
site.
China is the single-largest market for JLR. The company imports
most of the vehicles it sells in the world's largest automobile
market. It opened its first factory in China last year in a joint
venture with Chery Automobile Co.
Toyota halted production for three days this week because of
explosion-related evacuations. Renault S.A. said about 1,500 cars
it had imported were damaged, while Hyundai Motor Co. said about
4,000 of its vehicles were destroyed by the explosions.
Write to Santanu Choudhury at santanu.choudhury@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 21, 2015 08:52 ET (12:52 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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