Volkswagen: ends negotiations on partnership with Tata.
(CercleFinance.com) - Skoda Auto, one of the subsidiaries of German carmaker Volkswagen, yesterday announced that it has terminated talks with Indian actor Tata Motors regarding a potential “strategic partnership”.
These negotiations concerned the joint development of a vehicle for emerging countries.
“Both companies have concluded that at present, neither the technical nor the economic synergies are achievable to the extent desired by both parties,” the group announced in a short press release, meaning that this planned strategic partnership is no longer on the cards.
However, Skoda and Tata Motors believe that their exchanges in recent months have been "intense and constructive". As such, "future collaborations" cannot be ruled out.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
These negotiations concerned the joint development of a vehicle for emerging countries.
“Both companies have concluded that at present, neither the technical nor the economic synergies are achievable to the extent desired by both parties,” the group announced in a short press release, meaning that this planned strategic partnership is no longer on the cards.
However, Skoda and Tata Motors believe that their exchanges in recent months have been "intense and constructive". As such, "future collaborations" cannot be ruled out.
Copyright (c) 2017 CercleFinance.com. All rights reserved.