Aiming to explore a strategic alliance over development projects in India, the Volkswagen Group has signed a Memorandum of Understanding (MoU) with Indian car manufacturer Tata Motors Ltd.
The agreement is set to jointly develop product components with Tata's help on advanced higher platforms. It is by this cooperation, moreover, where Tata’s development of its chassis will be available for Volkswagen AG, while the latter would provide the Indian marque its knowledge in electrical engineering. For execution, the project will be led by Czech brand ŠKODA Auto on behalf of Volkswagen AG.
We are looking forward to the joint project with Tata Motors. Delegating project responsibility to ŠKODA underscores the great confidence of the Volkswagen Group in the ability of our brand. Together with Tata we will be specifying the concrete opportunities for collaboration over the coming months," said ŠKODA Auto CEO Bernhard Maier.
In addition, Volkswagen AG CEO Bernhard Maier is looking forward to the project as a medium where the foundations in customer-oriented mobility solutions will be laid. Tata Motors CEO and managing director Günter Butschek, on the other hand, is positive about the effect of the tie-up on its journey to future mobility, where it's readying itself to be 'FutuReady' by developing higher platform efficiency. As such, the Indian automaker revealed the Tamo Racemo concept at this year's Geneva International Motor Show.
Recently, Tata has been putting efforts in diverting its name to future mobility with its 'FutuReady'. Such move was the introduction of TAMO in February this year, an open platform that will network with global start-ups and tech companies to get hands on the latest trends and innovations.
Similar advances from Volkswagen were done last year. One was the introduction of the independent mobility service development firm MOIA under the VW umbrella. As a review, the independent company is directed towards integrated transport solutions, as well as car sharing services via the Gett app.
As of this time, neither of the 3 CEOs from the tying-up companies are willing to disclose further details regarding the project. However, all parties claim that more information will be out over the approaching months this year.
An auction in the US just sold a 2002 BMW M5 in six figures.
Henrik Fisker told The Verge his company is just months away from developing the first EV solid-state battery.