Tata Motors, Skoda End Talks On Potential Partnership

(RTTNews) - Volkswagen AG's (VKW.L, VLKAF.PK, VOW.BE) ŠKODA AUTO and Tata Motors cease discussions around potential partnership, the companies said.

ŠKODA AUTO said it has assessed and evaluated a potential strategic collaboration with Tata Motors Ltd over recent weeks and months. In doing so, both companies have concluded that at present, neither the technical nor the economic synergies are achievable to the extent desired by both parties. As a result, a planned strategic alliance will no longer be pursued for the time being.

Both companies would like to emphasise that following the intensive and constructive discussions of the last few months, they are not ruling out possible future collaborations.