PSA Group boss Carlos Tavares says he would consider a merger or acquisition with Jaguar Land Rover – as long as he didn't distract the French company.
Tavares has been open about expanding PSA – which currently includes Citroën, DS, Peugeot and Vauxhall / Opel – through acquisitions or joint ventures with other automakers. Tavares led PSA & # 39; s purchase of Vauxhall / Opel from GM in 2017.
In an exclusive interview with Autocar India, Tavares was interviewed about rumors of interest in Jaguar Land Rover, owned by the Indian company Tata Motors. He said it would be good for PSA to have a luxury brand and that the company "considered every opportunity," adding that he would be interested "as long as it is not a distraction."
Tavares said there have been no discussions with Tata Motors about Jaguar Land Rover yet. He also said that "we have no specific target, but if there are opportunities, we will of course consider it."
When we asked about adding a luxury brand that would be about DS, Tavares said, "Why not, why shouldn't we discuss it? It depends on what kind of value creation we can generate."
Jaguar Land Rover has taken a lot of trouble in recent months, affected by the falling demand for diesels and the decline of the Chinese market. Recent heavy losses, including a depreciation of assets, also caused the Tata Group to record a quarterly loss.
Tavares cited PSA's success in turning over Vauxhall / Opel, which published the first win in 20 years ago, suggesting that it could have a similar impact on the UK business involved: "With Opel we have shown that we a company can turn that around in red for 20 years, in 12 months. So this is something that we know how to do. "