Germany/India – The two companies have signed a memorandum of understanding (MoU) which will form the basis of long-term cooperation in specific areas, with the overall objective of jointly developing components and potentially also vehicle concepts. The project will be led by the VW Group’s Skoda brand.
“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,” said Matthias Müller, CEO of Volkswagen. “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.” For the Volkswagen Group, the MoU is part of its core initiative of ‘Together – Strategy 2025’.
Günter Butschek, CEO and managing director of Tata Motors, commented that the two companies “can leverage from each other’s strengths to create synergies and develop smart innovative solutions for the Indian and overseas market”. He said this was in line with Tata Motors’ strategy to become ‘FutuReady' by “embracing new technologies, fostering higher platform efficiency and offering solutions that connect with the aspirations of our customers”.
The first step of the project will look at the application of market knowledge and local development expertise. The contractual framework and guidelines for cooperation will be defined and disclosed over the coming months.www.volkswagen.com www.tatamotors.com
