Professor Stefan Bratzel of the Center of Automotive Management (CAM) in Bergisch Gladbach, Germany says it’s all about size.

“I’m wondering if it’s big enough to succeed as an independent player but it needs to cooperate or build an alliance with a bigger player. It’s more likely to be a Chinese partner, along the lines of Geely and Volvo; that’s more probable than a European brand like Groupe PSA or Renault. I’m not sure BMW will be interested after the Rover disaster,” Bratzel said.

https://www.forbes.com/sites/neilwinton/2020/07/08/jaguar-needs-to-be-ambitious-embrace-luxury-and-move-upmarket-to-thrive/#7def0b2393b7