The leading car manufacturer Volkswagen has been investing tons of money to stabilize its Indian business, Skoda Auto Volkswagen India PVT LTD (SAVWIPL). Even after trying so hard in the price-sensitive market, the brand did not receive the response it expected. Now, it is looking for a potential partner to sell stake in its Indian operation to boost the business in the country.
While confirming the news, Skoda Auto’s CEO, Claus Zellmer said “We have been in India for over 20 years and have not proven to be on the right track. So, you try a new track. I am convinced that if we find the right partner, then we can only learn and benefit from each other.”
Potential Partner
If rumors are to be believed, Mahindra is expected to take responsibility and might accept the offer. However, there is no concrete clarification about the same as yet.
Here’s What Top Official Says
Without disclosing any name, Zellmer stated that the company is looking for a true partnership with the skin in the game. He said with the potential partnership, SAVWIPL is looking to achieve better sales, improved engineering and procurement competence with the future partner.
He even revealed that the SAVWIPL is not on its knees or weak, who needs a partner to support it in bringing it back on foot. The top official says the brand aims to have an equal stake partnership, which will benefit both entities and help them grow in a similar direction in the Indian market.
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