The proposed partnership would look at developing, manufacturing and selling passenger vehicles for both the Indian market and for exports, across a full range of powertrains – internal combustion engine, electric, plug-in hybrid and hybrid, the company said in a statement.
The idea is to bring together two complementary strengths. Škoda Auto is one of the world’s established automobile manufacturers with deep engineering and product capability. The JSW Group brings manufacturing scale, execution experience and a presence across steel, infrastructure, energy, cement, paints and automotive in India, it said.
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, the company said.
