Jaguar Land Rover (JLR), Tata Group’s owner has approached carmakers which also includes China’s Zhejiang Geely Holding Group Co. and BMW AG as it seeks partnerships for the beleaguered British automotive business, people with knowledge of the matter said.
India’s largest conglomerate said that it’s open to finding partners for JLR to save on costs and share the burden of investing in electric vehicles. The deliberations were at an early stage and Tata could still approach other potential partners, the people said, asking not to be identified because the information is private. It wasn’t immediately clear how receptive Geely and BMW were “There have been no talks with Tata or JLR,” Geely said in a statement. BMW declined to comment, as did Tata.
Earlier this year, any tie-up with a Chinese automaker could potentially help JLR in that market, where its struggles led to a $3.9 billion. In August ruled out any equity investment, the Chief executive officer of the German carmaker, deeper ties between the British luxury brand and BMW would build on an existing collaboration which develops engines and electric drive technology.