JSW, Skoda-Volkswagen India stitch up 51:49 JV plan; sign non-binding MoU, begin exclusive valuation talks

JSW Group and Volkswagen Group have signed a non-binding MoU for a new alliance. This partnership aims to strengthen competitiveness through expanded product offerings and deeper localisation. The agreement initiates exclusive negotiations with a target final deal by end of 2026. The proposed alliance will operate through a new entity separate from existing JSW ventures. This move marks a significant step in VW's quest for a local partner in India.