Mahindra & Mahindra, JSW Group in Talks With Skoda Auto for Potential Partnership, Says Report
Mahindra & Mahindra Ltd and JSW Group are in reportedly in initiall discussions with Skoda Auto for a potential partnership that could involve acquiring a 15-20% stake in Skoda Auto Volkswagen India Pvt. Ltd.
New Delhi, July 15: Mahindra & Mahindra Ltd and JSW Group are reportedly in discussions with Skoda Auto for a potential partnership. According to reports, the Indian companies are exploring ways to collaborate with the Czech automaker, Skoda Auto to expand their reach in the automotive market. The partnership of Mahindra & Mahindra or JSW Group with Skoda Auto Volkswagen India Pvt. Ltd, might create new opportunities and enhance its position further in the Indian automobile industry. It is said that the talks are in the preliminary stages and both companies are evaluating the benefits and possibilities of this collaboration.
As per a report of Money Control, Mahindra & Mahindra Ltd (M&M) and JSW Group are in talks with Skoda Auto for a potential partnership. Skoda Auto has been talking to M&M and JSW for a while. If a deal happens, one of the two companies might buy a 15-20 percent share in Skoda Auto Volkswagen India. Additionally, they would have the option to gradually increase their stake in the company as time goes on. Audi Q5 Bold Edition Launched in India; Check Ex-Showroom Price, Specifications and Features of Audi’s New Luxury SUV.
Skoda sees to have many benefits in partnering with M&M. By collaborating, Skoda will reportedly have access into an established distribution network of M&M and have the opportunity to expand its local manufacturing operations. It may include the ability to get access to components needed for production. M&M is also expected to gain access to advanced German technology and can enter the sedan market. Tata Curvv To Launch in India on August 7; Know About Expected Price, Specifications and Features.
As for JSW, they already have a partnership with China's MG Motor. However, it is not clear how a potential joint venture with Skoda would be structured. It is possible that the joint venture with Skoda would operate separately from the one with MG. Additionally, JSW has a strong focus on electric vehicles through its MG Motor India unit. It raises questions about how Skoda's engines, which rely on fossil fuels, would fit into JSW's plans for electric vehicles.
(The above story first appeared on LatestLY on Jul 15, 2024 07:43 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).