Tata to buy Hummer?
* Jaguar and Land Rover owner raising 1.5bn * Struggling Hummer said to be a target * Indian group determined to expand car portfolio...
Tata Motors, owner of Jaguar and Land Rover, is reported to be considering a takeover of Hummer.
The Times newspaper has reported that the Indian group has approached shareholders to ask for permission to raise 1.5 billion to use on further acquisitions.
General Motors, the owner of Hummer, recently indicated that the brand's future is under review as sales decline because of rising fuel costs and environmental awareness.
The company's chief executive, Rick Wagoner, said: 'The company is considering all options, from a complete revamp of the product line to a partial or complete sale of the brand.'
Tata paid $2.3 billion (1.2 billion) for Jaguar and Land Rover, and a recent letter to shareholders explained that it wanted to raise another 1.5 billion to expand its portfolio of car brands.
'The company has major growth plans for expanding its product range and presence in the domestic and global markets in commercial and passenger vehicles, including through strategic alliances and acquisition opportunities,' said the statement.
Best plug-in hybrid cars 2024 – best and worst PHEVs named
Plug-in hybrid cars can reduce fuel consumption to an absolute minimum, but which models are the best all-rounders and which ones should you avoid?
