Tata Motors (BOM:500570, NSE:TATAMOTORS) plans to license Chery Automobile's (HKG:9973) Freelander, an automaking platform developed in a joint venture between the Chinese firm and Jaguar Land Rover, Reuters reported Wednesday, citing people familiar with the matter.

The Indian automaker plans to incorporate the platform in its electric vehicles under its premium Avinya brand, which will be manufactured at the newly opened factory in Tamil Nadu, according to the report.

The first model under the Avinya brand is scheduled to launch in 2027, the report said.

Shares of Tata Motors rose nearly 1% in recent trade, while those of Chery Automobile declined nearly 3% at market close.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)