Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
April 27, Thursday 2017 2:43 PM       

       HEADLINES: Ordinary people unable to approach police: Speaker                                              Scripting new history in old assembly hall                                              Advani thanks Mar Thoma Church for opposing Emergency                                              Modi launches low-cost UDAN flights                                              NGT issues contempt notice to Sri Sri Ravi Shankar                                              Terrorism will recoil on those who nurture it: India                                              20 killed in clashes in DR Congo's Kasai region: UN                                              Jadhav case: India hands over mother's appeal to Pak                                              US pledges to force N Korea to resume talks on nuclear arms                                              Brilliant Uthappa powers KKR to top of IPL 10                                              Samuels replaces injured de Kock                                              Kaumudi Facebook
       BUSINESS Next Article: IIP bounces back in Jan, expands by 2.7 pc  
       Tata Motors inks pact with VW, Skoda; products likely from 2019
 
         Posted on :21:18:41 Mar 10, 2017
   
A A
       Last edited on:21:18:41 Mar 10, 2017
         Tags: Tata Motors inks pact with VW, Skoda; product
 
NEW DELHI: Tata Motors today said it has entered into a long-term partnership agreement with Volkswagen Group and Skoda for joint development of products with the first rollout expected in 2019.
 
The agreement was signed by Guenter Butschek, CEO & MD of Tata Motors, Matthias Muller, CEO of Volkswagen AG, and Bernhard Maier, CEO of Skoda Auto, Tata Motors said in a statement.
 
Based on the strategic alliance, Tata Motors plans to launch products in the Indian market starting calendar year 2019, it added.
 
Under the Memorandum of understanding signed between the partners, Skoda Auto will take the lead on behalf of the Volkswagen Group to drive forward work towards development of vehicle concepts in the economy segment.
 
"The document lays down the scope and objectives in order to reach agreement on the modalities and terms of a long-term cooperation in identified areas of partnership," it said.
 
"We strongly believe that both the companies, by working together, can leverage from each other's strengths to create synergies and develop smart innovative solutions for the Indian and overseas market," Butschek said.
 
This is in alignment with Tata Motors' efforts to make itself 'FutuReady' by embracing new technologies, fostering higher platform efficiency and offering solutions that connect with the aspirations of our customers, he added.
 
Commenting on the development, Muller said, "Our aim with the envisaged strategic partnership with Tata Motors is to lay the foundations in the Group and the brands that will enable us to offer customer-oriented mobility solutions in the emerging, fast-growing automobile markets, as elsewhere."
 
He further said that by offering the appropriate products, VW intended to achieve sustainable and profitable growth in very different parts of the world. "That is why we are systematically pursuing our regional growth strategy," he added.
 
Bernhard Maier, CEO of Skoda Auto said,"Together with Tata, we will be specifying the concrete opportunities for collaboration over the coming months."
 
Tata Motors and Skoda Auto, representing the Volkswagen Group, will detail the guiding principles and terms of cooperation in the next few months, the statement said.
 
"Post successful completion of definitive agreements, the two companies will start joint development work and joint value-chain activities," it added.
A A
       BUSINESS
Next Article: IIP bounces back in Jan, expands by 2.7 pc
 
 
BUSINESS HEADLINES
Realty sector revived after demonetisation: PropTiger Report  
I voluntarily gave up rail budget: Suresh Prabhu  
Rupee scales near 21-mth high of 64.26 on global cues  
Nifty closses above lifetime high of 9,300-mark  
PM to review infra performance with officials today  
US dollar ends sharply lower against rupee  
Sensex rebounds 291 pts; French Prez race, RIL Q4 in limelight  
Thailand expects 12 lakh tourists from India in 2017  
GST great illustration of cooperative federalism: Modi  
Niti Aayog lists promoting digi-payments as achievement  
Hero Cycles eyes setting up Rs 400 cr project  
Impact of demonetisation abated: IMF  
Mistry appeals against NCLT rejecting waiver plea in Tata case  
Air India lowers age limit for elderly travel concession  
SEBI court quashes non-bailable warrant against Sahara chief  
India needs to accelerate investment in children, education:WB  
Sensex extends gains, up 86 pts on bargain hunting  
Jaitley may take up H-1B visa issue with US authorities  
'India moving forward to become major destination for FDI'  
Sensex surrenders early gains, falls 95 pts  
Apple, Coke, Airtel among cos pulled up for 143 misleading ads  
Inflation cools to 5.7%, food prices heat up  
Nifty regains 9,200-level in early trade  
SC orders auction of Sahara's Amby Valley  
Railways to export locos, train sets worth Rs. 680 cr to Lanka  
 
Should Senkumar be reinstated as DGP, law and order?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy