Jaguar Land Rover is on the hunt for acquisitions in a bid to broaden its portfolio of products, according to reports.
The luxury car brand, which has several production sites in Birmingham and the wider West Midlands, is eyeing up potential deals in both the automotive sector and elsewhere.
Bloomberg cites anonymous sources which said JLR was holding internal discussions on buying other brands to diversify the range of vehicles it sells and would consider purchases of luxury marques which fitted within its current portfolio.
The report went on to claim that JLR was also considering deals to acquire technology companies which would boost the carmaker's efforts to build electric vehicles and autonomous driving systems.
If a deal does go ahead, it will be the first one since global conglomerate Tata bought out Jaguar and Land Rover in 2008 from Ford for a combined £1.15 billion.
Bloomberg said senior officials at Tata Group want to increase the size of the company to stay competitive and the firm is willing to provide financial support for potential acquisitions.
Italian brand Fiat is reportedly looking to offload its Maserati and Alfa Romeo brands while the Volkswagen group is said to be weighing up the option of selling its motorcycle brand Ducati.
A JLR spokesman said the company would not be commenting on the report.
