Munich - BMW, which once owned Land Rover, is now teaming up with Jaguar Land Rover (now owned by Tata) in an electric car marriage aimed at mitigating the rising costs of shifting to zero emissions vehicles.
BMW and Jaguar Land Rover announced on Wednesday that they will jointly develop electric motors, transmissions and power electronics.
Both carmakers are under pressure to roll out zero-emission vehicles to meet stringent anti-pollution rules, but have struggled to maintain profit margins faced with the rising costs of making electric, connected and autonomous cars.
“Together, we have the opportunity to cater more effectively for customer needs by shortening development time and bringing vehicles and state-of-the-art technologies more rapidly to market,” said BMW board member Klaus Froehlich.
BMW and Jaguar Land Rover said they will save costs through shared development, production planning and joint purchasing of electric car components. Both companies will produce electric drivetrains in their own manufacturing facilities, BMW said.