Jaguar Land Rover (JLR), the luxury division of India’s Tata Motors, is reportedly ready to diversify its portfolio and seeks to acquire a new luxury brand, according to Bloomberg. What’s rumored to be on the market? None other than Fiat-Chrysler’s Alfa Romeo and Maserati brands.
FCA has thought of spinning off both Alfa Romeo and Maserati in the past, with the potential for a spin-off most recently coming back into the spotlight this summer. The report states Jaguar Land Rover’s decision to purchase another luxury brand would be supported by Tata itself financially and it would be the first acquisition by Jaguar Land Rover since Tata acquired both the British luxury brands in 2008 for $2.4 billion.
However, FCA CEO Sergio Marchionne recently said the spin-off of Alfa Romeo and Maserati is not likely in the near future. He said both brands are too “immature” and are deep in a development phase. “It’s the wrong moment, we are not in a condition to do it,” he said earlier this month. Both brands must “have the muscle to stand on their feet and make sufficient cash.”
No final decision on brands Jaguar Land Rover intends to pursue have been made, according to sources, and it’s unclear if the discussions will even lead to a potential offer for a brand.