Volkswagen, JSW Group propose JV to launch 2 locally-assembled EVs
Volkswagen is shaking up its India game through a proposed alliance with JSW Group, aiming to launch two locally assembled electric vehicles (EVs) within the next two years.
Announced at a Skoda Auto town hall, the move is all about improving scale, competitiveness, localisation, manufacturing and R&D.
Pact would give JSW majority control
The new potential joint venture pact (with Volkswagen ceding majority control to JSW) and JSW are also in talks on ways to optimally utilize their existing facilities for EV assembly, helping cut costs and boost localization.
Holger Peters, Skoda Auto's acting CEO, says this partnership will let them offer an expanded product range, deeper localisation and enhanced manufacturing and R&D capabilities, with an aim to enhance profitability across its operations by 2030.