JLR is up for partnerships with other auto companies, claims Thierry Bollore
British luxury car manufacturer Jaguar Land Rover's (JLR) is open to join hands with other auto manufacturers, indicates the brand's CEO Thierry Bollore.
Talking about the partnerships with other car manufacturers, he said that JLR is ready to take its existing partnership with BMW to the next level. In the last few years, mergers, acquisitions, and partnerships in the world of automobiles have increased significantly.
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As the auto companies are facing hurdles in terms of coping up with the challenges thrown by the megatrends like CASE, economic crisis, and the latest Covid-19 pandemic, they are opting for collaborations in an attempt to use synergies, bring new technologies, and reduce operational cost.
Not only that the automobile OEMs are partnering, but several automakers are joining hands or buying startups that are working in the field of automotive technology and service solutions.
Talking about such a move from JLR, Thierry Bollore said, "We have been exploring all possible partnerships and we are at the moment on the verge to go much deeper with some of them."
The Tata Group-owned British luxury car brand announced its partnership with BMW back in 2019. It said that the two automobile giants will work together to jointly develop electric motors, transmissions, and power electronics. Taking the partnership to the next level is on the card. "We are exploring other potential business together," Bollore said.
Meanwhile, the former Renault boss also said that the fourth-quarter results of JLR, which is scheduled to go public next week, will bring good news. He said that it is not known what is there in quarter four but it's going to be good news again. "You will see, that despite Covid, the performance of the company has been incredible in the second part of the year," Bollore further added.