India’s Tata Group is looking for a strategic partner for its Jaguar Land Rover (JLR) subsidiary to share the cost of new technology development.
According to local reports in India, Tata has approached China’s Zhejiang Geely Holding Group and Germany’s BMW AG to discuss collaboration with its UK luxury car subsidiary in new product development – particularly electric vehicles.
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The reports suggest that Tata’s deliberations are still at an early stage and that other global carmakers could also be approached to help share the cost of electric vehicle development.
Electric vehicles are expected to become the main growth segment in most developed vehicle markets globally in the next two decades, but significant investment is needed to make the switch from traditional internal combustion engine technology.
China, the world’s leading new vehicle market, is leading the charge towards electric vehicles and the recent introduction of minimum sales quotas is expected to result in close to 50% of total new passenger vehicle sales to comprise new-energy vehicles, mainly electric and hybrid vehicles, by the end of the next decade.
JLR already collaborates with BMW in the development of engines and electric-drive technology and further talks could deepen this partnership.
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