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.
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

Currentt Affairs 2018 November

14 NOVEMBER
NEWS
13 NOVEMBER
NEWS
12 NOVEMBER
NEWS
11 NOVEMBER
NEWS

Currentt Affairs 2018 October

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

Currentt Affairs 2018 September

30 SEPTEMBER
NEWS
29 SEPTEMBER
NEWS
28 SEPTEMBER
NEWS
27 SEPTEMBER
NEWS