Tata Motors Passenger Vehicles Ltd.

Tata Motors, the country’ largest car maker, has roped in a Chinese partner to build an assembly plant for its luxury British car brands Jaguar and Land Rover. The company is currently waiting for the necessary regulatory approvals.

In recent years India and China have emerged as key markets for global automakers, as car sales in most developed countries have slumped. Government stimulus packages, along with cheap financing and new models, have helped drive demand among increasingly well-off consumers in India and China. Further, the company is likely to double investments in its Jaguar Land Rover brands to 1.5 billion pounds a year to help launch new products and variants.

The company’s consolidated net profit rose by 40.49% to Rs 3,406 crore for the fiscal third-quarter ended December 31, 2011 from Rs 2,424.38 crore a year ago. Total income increased by 43.95% during the quarter under year review at Rs 45,260.26 crore against Rs 31,441.54 crore in the October-December quarter last fiscal.