Jaguar Land Rover Automotive plc – Annual report – 31 March 2025
Industry: automotive
36 COMMITMENTS AND CONTINGENCIES (extract)
Joint venture
Stipulated within the joint venture agreement for Chery Jaguar Land Rover Automotive Company Ltd., and subsequently amended by a change to the Articles of Association of Chery Jaguar Land Rover Automotive Company Ltd. is a commitment for the Group to contribute a total of CNY 5,000 million of capital. Of this amount, CNY 3,475 million has been contributed as at 31 March 2025. The outstanding commitment of CNY 1,525 million translates to £162 million at the 31 March 2025 exchange rate.
The Group’s share of capital commitments of its joint venture at 31 March 2025 is £5 million (2024: £2 million, 2023: £12 million) and contingent liabilities of its joint venture 31 March 2025 is £7 million (2024: £6 million, 2023: £nil).
Accounts examples 