Volkswagen JSW India partnership talks

Volkswagen is in advanced discussions with India's JSW Group for a potential partnership in its Indian operations. JSW is seeking a majority stake in Volkswagen — Skoda Auto Volkswagen India Pvt. Ltd., which would provide fresh capital and local expertise to Volkswagen's struggling India unit. The deal, if finalized, would cap Volkswagen's years-long search for a local partner and give JSW access to Volkswagen's vehicle platforms. However, several sticking points remain, including valuation and investment amounts. Volkswagen has also reduced its planned EV investment in India to $700 million from $1 billion. The German automaker holds only about 2.5% of India's passenger vehicle market, well below its 5% target. JSW already has a joint venture with SAIC Motor and plans to launch its own brand. Previous talks with Mahindra & Mahindra collapsed over development costs and cultural differences.