Volkswagen looks to team up with Tata in India

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

List of Mobile Phone USSD Codes for Money Transfers for All Banks in Nigeria

As technology evolves, the financial sector is not left behind, Several softwares have been developed to make banking easier...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...
Volkswagen looks to team up with Tata in IndiaVolkswagen looks to team up with Tata in India

German carmaker Volkswagen and India’s Tata Motors plan a future “strategic partnership” in the subcontinent to jointly develop parts and vehicles, the two firms said in a joint statement Friday.

Europe’s and India’s largest auto manufacturers signed a memorandum of understanding (MoU) “to unite the expertise of the two carmakers in developing joint vehicle components and even possible concept vehicles,” the statement read.

Image result for Volkswagen Tata

Working with Tata will offer the Wolfsburg-based group “specific market knowledge as well as local development expertise,” the statement continued, adding that VW wants to expand its product range in India.

- Advertisement -

VW aims to “create the conditions to offer appropriate mobility solutions for the new, fast-growing car markets” with the deal, chief executive Matthias Mueller said.

While the path to neighbouring China is well-trodden by western carmakers, India still offers plenty of room for expansion.

Read:  La Casera Apple Drink Celebrate Dealers, Other Stakeholders With Fresh New Look And More Apple Juice

Annual car sales are expected to double from just under 3.0 million in 2016 to more than 6.0 million in 2030, said industry expert Ferdinand Dudenhoeffer of Germany’s CAR research centre.

“Even before 2020, India’s car market will be bigger than Germany’s,” Dudenhoeffer said.

- Advertisement -

But with lower average incomes than in China, the world’s second-most-populous country demands a different approach.

Read:  Total, Stallion Partner On Lubricant Supply

Indian buyers prefer affordable “budget cars”, Dudenhoeffer explained, while Chinese drivers are more interested in high-tech features like internet apps and mobile connectivity.

Czech Republic-based VW subsidiary Skoda — which operates an Indian plant in Aurangabad, Maharashtra state — will take the lead in working with Tata, hammering out the details of the partnership “in the coming months”, Skoda CEO Bernhard Maier said.

Read:  Suzuki to set up production plant in Ghana

As well as the Skoda factory in India, VW already turns out its own-brand cars at a facility in Pune and has several sites belonging to truck units MAN and Scania.

- Advertisement -

Sales at the auto giant have suffered since it admitted installing software to cheat regulatory emissions tests in 11 million vehicles worldwide, leaving it hunting new sources of growth.

(independent.co.ug)

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Lafarge Africa Plc Records N15.5bn PAT in 2019, Proposes N1.00k Dividend

Revenue declined by -2.2% to N213bn from N218bn in the previous quarter. Profit before tax stood at N17.9bn. ...

HKTDC’s Start-up Express returns for third edition; Building connections, markets, partnerships and brand awareness

HONG KONG, CHINA - Media OutReach - 6 April 2020 - Start-up Express, a development programme launched by the Hong Kong Trade Development Council...

Enabling Remote Work – Synology VPN Plus Licenses Free Until September 30, 2020

In response to the ongoing COVID-19 pandemic, many businesses have adopted work from home policies. Synology's wireless routers feature powerful VPN server capabilities that...

BMW Group Focuses On Flexibility And Solidarity In Dealing With Coronavirus Pandemic

During the current coronavirus pandemic, protecting employees and taking responsibility for society is the number one priority for the BMW Group. At the same...
- Advertisement -
BrandsPur Weekly Cartoons
%d bloggers like this: