Mahindra and Skoda likely to sign pact for proposed JV soon

by

Top executives of Mahindra & Mahindra and Skoda Auto Volkswagen India (SAVWIPL) are likely to meet over the next few days in Mumbai to discuss forming a potential car manufacturing joint venture in India, said people familiar with the matter.

“The board members of SAVIWPL and M&M are scheduled to meet over the next few days,” one of the persons said. The talks are progressing well, the person said, noting that both sides are likely to dwell on product, vehicle platform strategy and factories that would be utilised by the new JV company.

Sedans and SUVs that Volkswagen and Skoda currently sell in the Indian market, and luxury marques Audi, Porsche and Lamborghini, won’t be part of the JV, the person said.

ET reported in its August 30 edition that M&M and Volkswagen Group’s wholly owned India subsidiary are in advanced stages of forming an equal JV to share costs, technology, and vehicle platforms for future product development.

Skoda leads VW Group’s strategy in India.


Klaus Zellmer, chairman of the board of Skoda Auto, who is also in Mumbai, will steer the talks on behalf of SAVWIPL.The talks are likely to culminate into the two automakers signing a MoU as early as October-end or beginning November for the planned joint venture, said the people cited above. Spokespersons at SAVWIPL and M&M declined to comment.

Source link

Denial of responsibility! NewsConcerns is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a Comment