The folks in the Indian and British automotive industry will no doubt be cheering right now, with news that Tata Group has inked a deal with China for the supply of some 10,000 Land Rovers and 3000 Jaguars over the next three years.
The deal is worth a much needed AUD$1.3 billion dollars and was secured by a Chinese trade delegation during a recent visit to the UK.
A Jaguar Land Rover spokesperson outlined the importance of the deal:
?The confirmation provides us with a solid base on which to further build our presence in this key emerging market and is particularly welcomed at this challenging time for us and the automotive industry.?
The timing couldn't be better, with economic pressure having forced JLR into a variety of cost-cutting measures in recent times.
Around 2000 jobs have been cut over the past few months, with the remaining 12,000 workers currently in negotiations to secure their employment - albeit at reduced rates.
It's good news for Tata Group and for the motoring public in general, especially as far as Jaguar is concerned.
If Jaguar's good form over the last two years is anything to go by, we definitely want the brand to stick around.