HeadlinesBriefing favicon HeadlinesBriefing.com

Volkswagen, JSW Tie-Up Talks Focus on Cost Cuts

Bloomberg Markets •
×

JSW Group’s talks with Volkswagen Group on a potential India partnership now center on reducing costs, gaining export-market access and how much control the German automaker would retain, according to people familiar with the matter. Billionaire Sajjan Jindal’s conglomerate has told Skoda Auto AS, which leads Volkswagen’s India operations, that the automaker’s material costs in the country are too high and that JSW could help reduce them by as much as 50% to make the venture competitive, the people said, asking not to be identified discussing private negotiations.