The decision to call off the agreement comes amid mounting losses at Tata Motors India operations and efforts to turn around the business. Photo: ReutersMumbai: Tata Motors and Volkswagen Group’s Skoda Auto are set to call off their proposed agreement to co-develop cars. Skoda engineers, the magazine reported, had convinced the top management that with such an investment, it’s possible to develop and localise the VW Group’s MQB-A platform. An alliance with the German carmaker would have given Tata Motors, which has lost ground in India’s competitive passenger vehicle market, access to advanced technology and could have helped both partners shave off development and production costs. The India business reported a loss of Rs403 crore in the June quarter.

Source: Mint August 10, 2017 09:33 UTC