Jaguar Land Rover is reportedly eyeing the acquisition of a new automotive brand.
According to sources who spoke to Bloomberg, the company has been holding internal discussions about the possibility of buying a new brand to help diversify its lineup. Little is known about the talks but one person told the publication JLR is eyeing luxury brands that would complement their existing products.
The discussions don’t appear to be limited to automakers as the report suggests the company is also talking about the purchase of technology firms. This could help JLR develop autonomous driving technology as well as meet their goal of offering an electrified version of every vehicle the company makes.
The discussions appear to the blessing of Tata has the company reportedly has around $6.1 billion in cash and Tata Motors Group CFO C Ramakrishnan has previously said the company will use the money to invest in new products and technology.
There’s no word on which brands the company is considering but marques from Fiat Chrysler Automobiles are the most obvious possibilities. FCA CEO Sergio Marchionne has been desperately looking for a partner and hasn’t been shy about the possibly of selling or spinning off brands such as Alfa Romeo or Maserati.