Skoda Auto a.s. (international) and JSW Green Mobility Limited, part of the JSW Group, have signed a non-binding Memorandum of Understanding to explore setting up a strategic joint venture in India. The proposed venture seeks to combine the Czech carmaker's engineering and product capabilities with JSW Group's manufacturing scale and execution experience in India. The JV would look at developing, manufacturing and selling passenger vehicles for both the Indian market and for exports across a range of powertrains, including internal combustion engine, electric, plug-in hybrid and hybrid.
"At this stage, the MoU is exploratory and non-binding. The two companies are in early discussions, and there is no definitive agreement yet. Any firm arrangement would follow further negotiation, internal approvals and the necessary regulatory clearances," a JSW spokesperson informed us. If the joint venture materialises, it could become the third vertical of JSW Group's automotive business, after JSW-MG Motor and JSW Motors.