Bouyed by the response, Tata Motors on Thursday said that the company was looking at synergising functions with its UK-based subsidiary Jaguar-Land Rover and indicated at setting up a manufacturing facility for the two iconic brands in India.
"We started assembling models of Land Rover here... looking at manufacturing down the road. Economies and skills of India will be available and we do have access to technology in JLR today," Ratan Tata, Chairman, Tata Motors, said.
When asked whether Tata Motors is looking to acquire any other global brand, he said, "We have no plan to shop around, nor do we have any specific brands that we want to acquire."
The auto major is looking at manufacturing and not just assembling Land Rovers in India. "We are in discussions with Fiat for engine supply and other joint venture possibility ahead," Tata told reporters.
Acquisition of JLR in 2008 has put Tata Motors on the map of international market, he said, adding that 50-60 per cent revenues come from outside and the company has maintained its share in the Indian market.
To a query that whether the group would be listing the JLR subsidiary separately on bourses, Tata said no and also ruled out merging JLR brand with others.
Early last year, Jaguar Land Rover, the UK-based unit of Tata Motors Ltd, opened its first assembly plant in India at Pune to assemble sports utility vehicle Land Rover's Freelander 2 from completely knocked down kits shipped from the Halewood manufacturing plant in Liverpool, UK.
JLR sells imported XJ, XF and XK sedans from the Jaguar range in India and the Freelander, Discovery and Range Rover SUVs from Land Rover.
In 2008, Tata Motors had acquired Jaguar and Land Rover brands from Ford Motor Co for $ 2.3 billion.
Later, Tata Motors had announced that initiatives have been taken on joint development programmes for engines, vehicles and platforms, which would leverage skills of the company - Tata Motors and Jaguar Land Rover - resulting in synergies in operations of the company and its subsidiary.