Volkswagen in Talks to Sell Stake in India Unit to JSW
Volkswagen AG is reportedly in advanced discussions to sell a stake in its India business to the JSW Group, according to a Bloomberg News report. The proposed investment would bring fresh capital into Skoda Auto Volkswagen India Pvt and strengthen the company’s operations in the fast-growing Indian automobile market.
The report said both companies are working towards finalising a deal in the coming weeks. While Skoda, which oversees Volkswagen’s India operations, declined to comment on the report, it confirmed that it is exploring new business opportunities to support its long-term growth strategy in India. JSW has not yet issued an official response.
India has become a key growth market for Skoda and Volkswagen as the group looks to expand beyond Europe following its exit from Russia and reduced presence in China. Skoda CEO Klaus Zellmer has previously stated that the company is prepared to continue investing in India independently if it does not secure a local strategic partner.
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