Volkswagen, Škoda and Tata Motors have signed an MoU to jointly develop vehicle components and potentially vehicle concepts. Under the terms of the memorandum, the Volkswagen Group and Tata Motors will explore possibilities for a strategic partnership in India.
With Škoda directing the project, the first step will be to address topics such as the application of specific market knowledge as well as local development expertise. In the long term, the Volkswagen Group is looking to further expand its product portfolio in emerging markets.
“Our aim with the envisaged strategic partnership with Tata Motors is to lay the foundations in the group and the brands that will enable us to offer customer-oriented mobility solutions in the emerging, fast-growing automobile markets, as elsewhere. By offering the appropriate products, we intend to achieve sustainable and profitable growth in very different parts of the world. That is why we are systematically pursuing our regional growth strategy,” commented Matthias Müller, CEO of Volkswagen.
March 15, 2017