Carlos Tavares, PSA Group’s CEO, said that he would be interested into a merger or acquisition with Jaguar Land Rover.
During an interview with Autocar India, Tavares said that it would be good for PSA to have a luxury brand and that his company is “considering all opportunities”. However he then added that there have been no discussions with Tata Motors, JLR’s owner, over the matter.
PSA Group’s boss is open to the possibility of having a more premium brand above DS but adds that this will depend on what kind of value creation could be generated. Tavares added that PSA’s focus now is on the second phase of their ‘Push To Pass’ strategic plan, which is to expand their global presence, as well as to introduce more electrified vehicles.
A merger with PSA Group could prove beneficial for both car makers but especially for Jaguar Land Rover, which is currently struggling with declining sales and big losses, including an asset writedown. Citing PSA’s success in turning around Opel, Tavares suggested that it was possible they could do the same with Jaguar Land Rover.
Tata Motors responded by saying that Jaguar Land Rover isn’t for sale, with a company’s spokesperson adding: “There is no truth to the rumors that Tata Motors is looking to divest its stake in JLR.”
This is the second time we hear about PSA being interested in another carmaker, with previous reports talking about the French manufacturer being in talks with Fiat Chrysler over a potential “super platform”.