JAGUAR Land Rover could soon be sold by Indian conglomerate Tata to PSA – the owner of Peugeot, Citroen, DS and Vauxhall – according to unconfirmed press reports.
The Press Association reports the claims from JLR sources, despite on-record denials from the companies involved.
Reports centre on an ‘internal document’ which identifies potential savings from a merger.
A JLR source said to have seen the document told PA: “To have a document like this in circulation at the two firms points to the fact things are very far down the line with either a sale or acquisition.”
“.. There are plenty of ways the two companies could save money by working together.”
It follows job losses at the Coventry-based JLR including at its Solihull plants in Castle Bromwich and Lode Lane.
The French giant Peugeot quit production in Coventry more than a decade ago but retains a head office near to JLR’s UK head office.
The leaked document is called a “post-sale integration document”, according to the newspaper rumours.
A PSA spokesperson told journalists it was in “no hurry” to acquire any other company, while accepting it would explore future opportunities.
But PSA chairman Carlos Tavares has long been thought to be interested in a merger with JLR and has previously been on-record about his interest in future acquisitions.
JLR boss Ralph Speth has repeatedly warned of further job losses resulting from Brexit uncertainly, diesel taxation and reduced demand from China.
But he has also emphasised the firm’s commitment to the Coventry and Solihull region for the long-term – with investment in the transition to hybrid and electric engine models here in our region.