TATA signs MOU with Volk­swa­gen and Skoda

Nam Wheels - - News -

Tata Mo­tors an­nounced the sign­ing of a Mem­o­ran­dum of Un­der­stand­ing­for a long-term part­ner­ship with Volk­swa­gen Group and Skoda, to ex­plore strate­gic al­liance op­por­tu­nity for the joint de­vel­op­ment of prod­ucts. The agree­ment was signed by Mr. Guenter Butschek, CEO & MD of Tata Mo­tors, Matthias Mueller, CEO of Volk­swa­gen AG and Bern­hard Maier, CEO of Skoda Auto. The doc­u­ment lays down the scope and ob­jec­tives in or­der to reach agree­ment on the modal­i­ties and the terms of a long- term co­op­er­a­tion in iden­ti­fied ar­eas of the new part­ner­ship. Skoda Auto will take the lead on be­half of the Volk­swa­gen Group to drive for­ward work to­wards the de­vel­op­ment of new con­cepts in the econ­omy seg­ment. Tata Mo­tors and SKODA Auto, rep­re­sent­ing the Volk­swa­gen Group, will de­tail the guid­ing prin­ci­ples and the terms of co­op­er­a­tion in the next few months. Post suc­cess­ful com­ple­tion of de­fin­i­tive agree­ments, the two com­pa­nies will start joint de­vel­op­ment work and joint value-chain ac­tiv­i­ties. Based on this joint work, Tata plans to launch prod­ucts in the In­dian mar­ket, start­ing in the cal­en­dar year 2019.

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