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Jaguar Land Rover was unprofitable through the first half of its fiscal year ended Sept. 30, hit by Brexit-related production shutdowns and weaker demand in China. But Speth said the second half of the year should be better than the first.
The renowned luxury carmaker Jaguar Land Rover's CEO says that the company is not looking for full-blown corporate mergers but rather alliances that will bring down the cost of developing technology.
The company’s CEO Ralf Speth said - "We feel the pressure" from demands to slash carbon emissions and develop electric vehicles, Jaguar Land Rover chief Ralf Speth said in an interview on the side-lines of the Los Angeles auto show. But to the question of whether the company and its parent, Tata Motors Ltd. are seeking a merger for Jaguar Land Rover, Speth said: "The answer is no. We can really survive on our own."
He also added that the British luxury automaker is open for technology alliances, component sharing with other manufacturers.
The company decided to develop electric cars in collaboration with BMW AG earlier this week.
Jaguar Land Rover currently sells electric Jaguar I-Pace sport utility vehicle that will arrive in the second half of the year 2020 in India.
This year tuned no profits for Jaguar Land Rover as it was hit by Brexit-related production shutdowns, accompanied by weak demand in China.
But the company is positive for the second half of the year.