Jaguar Land Rover looking to buy new luxury brand
26th Sep 2017 11:35 am
Sources suggest that JLR-owner Tata will help fund the acquisition of a high-end luxury manufacturer.
Jaguar Land Rover is currently evaluating buying a high-end premium brand to better compete in the market.
Reports on Bloomberg suggest that the UK-based manufacturer has the backing of parent company Tata to purchase a premium luxury brand. Sources also told Bloomberg that one of the criteria of the purchase is that the brand should already have invested in electrification and autonomous driving systems, which are vital to JLR’s plans after 2020.
The British car maker had revealed plans to have an electrified variant for every model in its global line-up starting in 2020. They have also been working with San Francisco-based Lyft by investing in driverless tech.
In the recent past, JLR has launched a variety of new models as part of its aggressive push to boost global sales. The Range Rover Velar, Jaguar F-Pace and E-Pace are the new offerings from the group
JLR is also increasing its production to meet demand thanks to investment by Tata. The brand has recently inaugurated a new facility in China and will complete another in Slovakia in 2018.
In India, JLR has also been on a launching spree by bringing the range-topping Range Rover SVAutobiography Dynamic, Jaguar F-type SVR and AWD versions, and the Land Rover Discovery to our shores. The manufacturer will also launch its Velar SUV before the end of the year.
Also read: Land Rover to launch new Road Rover model in 2019