Volkswagen Group has reopened conversations with the JSW Group, spearheaded by Sajjan Jindal, about a potential joint venture to expand its presence in India.
Under the reported framework, JSW would manage local operations via JSW Auto, a mobility unit of the company.
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It would also draw on technology and vehicle platforms from Volkswagen and SAIC Motor, the China-based parent of MG Motor India, to which the Jindals are already linked.
Discussions remain at an early stage and the commercial terms have yet to be decided.
In an email to The Economic Times, Volkswagen Group said: “To fully explore the country’s growth potential, we are always considering new business opportunities and are evaluating various options to ensure the best possible solution to implement our strategy in the highly dynamic Indian market.
“Although we do not comment on market speculation, we reaffirm our commitment to delivering innovative mobility solutions that meet the evolving needs of Indian consumers.”
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By GlobalDataA tie-up with JSW would represent a notable escalation of Volkswagen’s ambitions in India, where it has been a relatively small player despite operating in the market for more than 20 years.
Volkswagen already has a 50:50 joint venture with SAIC in China.
The renewed talks with JSW follow what appears to be a slowdown in discussions with Mahindra & Mahindra; those negotiations have been under way for approximately three to four weeks.
In February last year, Volkswagen and Mahindra signed an initial supply agreement for components of Volkswagen’s MEB electric platform for use with Mahindra’s INGLO platform, covering certain electric components and unified cells.
