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New York NY, U.S
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TATA Motors has signed a Memorandum of Understanding (MoU) with Volkswagen and Skoda for the joint development of products, technologies and components sourcing.
The long-term partnership on the Indian sub-continent is proposed, with the objective of joint development of projects to expand the product portfolio.
"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", said Matthias Müller, CEO, Volkswagen.
The contractual framework and the guidelines for a strategic cooperation between the Volkswagen Group and Tata Motors. Are to be examined and defined in detail over the coming months. Until then, the parties have agreed not to disclose any further information.