VW, Tata sign accord to explore cooperation, report says
March 9, 2017 @ 10:29 am
Andreas Cremer, Jan Schwartz and Aditi Sha
Reuters via AutoNews.com
BERLIN -- Volkswagen Group has signed a memorandum of understanding with Tata Motors to explore cooperation in India, sources close to the matter said, as VW takes a fresh attempt at conquering low-cost markets.
After months of talks, the carmakers have signed a memorandum of understanding to deepen exchanges about technology, components and platforms, and analyze overlaps that could come from cooperation, one of three company sources said.
VW is embracing electric cars and looking for new markets as it battles to recover from its diesel emissions scandal. A previous attempt by VW to expand in emerging markets through an alliance with Suzuki Motor collapsed in 2015 after a fierce dispute.
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