UK-based utility vehicle maker Land Rover and International Tractors Ltd., an Indian unlisted tractor company, are planning joint production of a small car in India, Dow Jones said, citing fortnightly car magazine Auto Monitor.
The plan is in its initial stages, the reports said, with Land Rover, owned by Ford, likely to provide the technology for the project.
The report said officials at International Tractors, in which Renault owns a 20% stake, weren’t available for comment.
Dow Jones noted that over 80% of car sales in India, expected to exceed 800,000 units during the current financial year ending this month, are in the small car segment.
Land Rover UK spokeswoman Kay Francis told just-auto the report was the first she had heard of such a plan and dismissed it as “just speculation”.