No talks with Fiat over tech sharing: Tata

Homegrown carmaker Tata Motors, currently in talks with US-based Ford Motor to acquire British marquees Jaguar and Land Rover, said on Monday there was no discussion with partner Fiat for sharing of JLR's technology.

"Tata Motors, which is engaged in focused and detailed negotiations with Ford on the Jaguar Land Rover business,  clarifies that the company has had no discussions with Fiat on deployment of technologies developed by Jaguar and Land Rover," the Mumbai-based company said in a statement.

The company is in advanced round of discussions with Ford to take over the Jaguar and Land Rover brands globally. It had emerged as the preferred bidder, beating India's Mahindra and Mahindra and PE firm One Equity Partners, to acquire the two brands.

"Tata Motors is pleased by the progress in the discussions with Ford to date and hopes that both the parties can reach an agreement in the forthcoming weeks," the statement said.

Though Tata's have not revealed what would be their strategy for the two marquees in case it successfully acquires them, reports in the British media suggested that the company's partner in India -- Italy's Fiat, was hoping to get access to JLR's technology for its own products.

The company has a joint production and marketing tie up with Italy's Fiat to retail its brands in India.

The two companies had signed an equal joint venture agreement in October last year to produce passenger cars, engines and transmissions for Fiat for both Indian and international markets.