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German automaker Volkswagen is negotiating a potential joint venture with India’s JSW Group to strengthen its manufacturing and distribution capabilities in the country. The move aims to reverse stagnant sales and capture greater market share in South Asia’s largest auto market.
Volkswagen is reportedly nearing a deal to sell a stake in its Indian unit to the JSW Group, an Indian conglomerate. This potential sale could significantly alter Volkswagen's operations in the Indian market.
Volkswagen and India’s JSW Group have signed a non-binding memorandum to establish a 51:49 joint venture designed to accelerate the automaker’s manufacturing and sales expansion in India. The partnership aims to combine global automotive expertise with local industrial capabilities.
Volkswagen's Indian division, led by Škoda Auto, is reportedly close to finalizing a partnership with the Indian industrial conglomerate JSW Group, which is expected to bring new models.