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JSW Group To Have Majority Stakes In Proposed JV With Volkswagen-Skoda India
JSW Group likely to hold 51 percent stakes in joint venture MoU expected to be signed in next couple of months
Skoda Auto Volkswagen India and the JSW Group are in the final stages of their talks on a possible manufacturing joint venture (JV). Media reports claim that the companies are expected to sign a memorandum of understanding (MoU) in the next couple of months. The big news is that the JSW Group is expected to hold the majority stake. The joint venture is currently under discussion as a 51:49 partnership.
Senior global executives from Skoda Auto and Volkswagen are likely to visit India this month to hold talks with JSW Group. This proposed JV comes as SAVWIPL is preparing its next round of investment in electrification and localisation. JSW Group’s fund will be used to develop and localise electric vehicles and for the company’s future programmes.
A huge chunk of money will go on vehicles based on the India Main Platform (IMP), Volkswagen Group’s EV architecture for India. For people not in the know, the IMP is derived from the China Main Platform (CMP). This strategy will allow Skoda Auto and Volkswagen to use an existing architecture and modify it to suit Indian regulations and the local supplier base for higher-levels of localisation.
The new IMP platform is expected to be used to develop multiple electric SUVs, which will be sold under the Skoda and Volkswagen nameplates over the next few years. The company will be aiming at higher localisation levels to achieve competitive pricing and reduce dependence on imports. It is early to comment whether luxury brands, including Audi, Porsche and Lamborghini will be part of this joint venture. For people not in the know, these luxury brands are integrated with the manufacturing business under Skoda Auto Volkswagen India.
JSW Motors - Independent Journey
JSW Group has a joint venture with MG Motor India, and is selling vehicles under the new nameplate - JSW MG Motor India. The upcoming JV with Skoda Auto Volkswagen will have no Chinese participation, which will allow the homegrown brand to further derisk its automotive business from China-linked partnerships.
JSW Motors will also begin its independent journey as a passenger vehicle maker before the end of this year, The company will introduce multiple new products based on the Chery’s, Chinese automaker, global SUVs. The Jetour T2 plug-in hybrid could be the brand’s first model in our market. Moreover, the company is testing the Jaecco J5 and the iCar V23 retro-styled EV on the Indian roads.
About Author
Chhavi
Sub-Editor
Chhavi Kaushik is a seasoned content writer with over a decade of experience, beginning her career in 2010. Her fascination with automobiles led her to the industry in 2014. As a freelancer, She has contributed to some of the most reputed online automotive publications, consistently delivering fresh updates on the latest automotive events, product launches, car reviews, and critical industry insights.
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