Tata Motors, Volkswagen Group signed MoU for exploring joint development projects

Posted on:15 Mar 2017 17:55:48
Tata Motors, Volkswagen Group signed MoU for exploring joint development projects
15 March 2017 Current Affairs: Tata Motors on 10 March 2017 announced the signing of a MoU for a long-term partnership with Volkswagen Group and Skoda to explore strategic alliance opportunities for joint development of products.

The Memorandum of Understanding (MoU) was signed by Guenter Butschek, CEO & MD of Tata Motors, Matthias Mueller, CEO of Volkswagen AG and Bernhard Maier, CEO of Skoda Auto.

Features of the MoU : The MoU lays down the scope and objectives in order to reach agreement on the modalities and terms of a long-term cooperation in identified areas of partnership.

As part of the MoU, the Skoda Auto will take the lead on behalf of the Volkswagen Group to drive forward work towards development of vehicle concepts in the economy segment. In the next few months, Tata Motors and SKODA Auto, representing the Volkswagen Group, will detail out the guiding principles and terms of cooperation under the agreement.

After the successful completion of definitive agreements, the two parties will start joint development work and joint value-chain activities.

 Based on this joint work, Tata Motors will launch products in the Indian market in 2019.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs December 2017

18 DECEMBER
NEWS
17 DECEMBER
NEWS
16 DECEMBER
NEWS
15 DECEMBER
NEWS

Current Affairs November 2017

30 NOVEMBER
NEWS
29 NOVEMBER
NEWS
28 NOVEMBER
NEWS
27 NOVEMBER
NEWS

Current Affairs October 2017

31 OCTOBER
NEWS
30 OCTOBER
NEWS
29 OCTOBER
NEWS
28 OCTOBER
NEWS