- Wednesday, April 24, 2024
By: Radhakrishna N S
BMW may snap a stake in the loss-making Jaguar Land Rover (JLR).
The speculations have increased following comments made by the boss of the German auto giant.
Speaking at the launch of a new €200m battery research centre at the company’s Munich base, Oliver Zipse said: “Co-operation and working together is the new normal in the industry.
“We are not only working on electric drive trains and internal combustion engines with JLR, but other components. ”
They are already teaming up to develop electric cars as the auto industry adapts to revolutionary changes.
Zipse hasn’t rejected the reports that the Tata Motors-owned carmaker is in search of a partner to avert further loss to return its previous growth path and BMW is one of the manufacturers it is talking to.
He added: “We have made no decision on it – I cannot comment on something that is not decided.”
Britain’s largest carmaker which lost £3.6 billion in the year to March is on a hunt for suitable partner to get support to develop electric vehicles and has been in discussion with BMW about extending their collaboration, media reports said.
The current agreement includes operating together on research and development spending, allowing the two companies to focus jointly on electric vehicles.
Both BMW and JLR are reluctant to comment on the reports that BMW could take a stake in JLR.
The purpose of the facility in Munich is to advance battery cell technology and carefully dissect the production processes.
