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24 August, 2017 01:13 IST
Tata Motors, Skoda cease discussions around potential partnership
Source: IRIS | 11 Aug, 2017, 08.41AM
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Tata Motors and Skoda Auto have performed a joint technical feasibility and commercial evaluation of a potential collaboration. Based on intense and constructive discussions, both the companies have jointly concluded that the envisioned areas of partnership may not yield the desired synergies as originally assessed. Nevertheless, the two companies have decided to keep in touch for future areas of collaborations.

Guenter Butschek, CEO and Managing Director, Tata Motors, (Q,N,C,F)* said, "We have evaluated the technical feasibility and degree of synergies for the envisioned partnership. We have concluded that the strategic benefits for both parties are below the threshold levels. However, we remain positive of exploring future opportunities with the Volkswagen group, given the relationship of mutual respect that we witnessed during the phase of our cooperation discussions."

Tata Motors will continue to pursue its standalone product strategy to bring exciting and world-class products to its customers.

Shares of the company declined Rs 35.85, or 8.6%, to settle at Rs 380.90. The total volume of shares traded was 2,401,602 at the BSE (Thursday).



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