Tata Motors has announced the finalizing of a Memorandum of Understanding (MoU) for a long-lasting collaboration with Volkswagen Group and Skoda Auto, to check out tactical alliance opportunity for joint advancement of products. The contract has been signed by Guenter Butschek, CEO & MD of Tata Motors, Matthias Mueller, CEO of Volkswagen AG and Bernhard Maier, CEO of Skoda Auto.
The file puts down the scope and goals in order to reach agreement on the methods and regards to a long-lasting cooperation in determined areas of partnership. Skoda Auto will take the lead on behalf of the Volkswagen to drive forward work to the advancement of car concepts in the economy sector.
Revealing this tactical alliance opportunity, Guenter Butschek, CEO and Managing Director, Tata Motors, stated, “We are delighted to reveal our potential cooperation with Volkswagen Group and Skoda. We highly think that both the companies, by interacting, can utilize each other’s strengths to develop synergies and establish clever ingenious services for the Indian and abroad market. This is in alignment with Tata Motors’ efforts to make itself ‘FutuReady’ by embracing new technologies, promoting greater platform effectiveness and offering solutions that get in touch with the goals of our clients.”
“Our goal with the envisaged strategic collaboration with Tata Motors is to lay the structures in the Group and the brands that will allow us to offer customer-oriented mobility solutions in the emerging, fast-growing car markets, as in other places. By using the suitable items, we plan to achieve sustainable and profitable growth in very different parts of the world. That is why we are methodically pursuing our local development strategy”, Matthias Müller, CEO of Volkswagen AG, commented.
“We are anticipating the joint project with Tata Motors. Delegating project duty to Skoda highlights the excellent confidence of the Volkswagen Group in the ability of our brand. Together with Tata, we will be defining the concrete opportunities for partnership over the coming months”, Bernhard Maier, CEO of Skoda Auto, specified.
Tata Motors and SKODA Auto, representing the Volkswagen Group, will inform the guiding concepts and terms of cooperation in the next few months. Post successful conclusion of definitive contracts, the two automakers will begin joint development work and joint value-chain activities. Based upon this joint work, Tata Motors prepares to launch products in the Indian market, starting in the fiscal year 2019.