Volkswagen AG is in advanced discussions to sell a stake in its Indian subsidiary, Skoda Auto Volkswagen India Pvt., to the Indian conglomerate JSW Group. The talks aim to infuse fresh capital into Volkswagen's local operations and bolster its presence in the highly competitive Indian auto market, where it has struggled to gain significant market share.
JSW Group is reportedly seeking a majority stake in the venture, which would cap a years-long search by the German automaker for a local partner. While discussions are in an advanced stage and an agreement could be reached in the coming weeks, key details such as valuation and the size of the investment are still being negotiated. This move is part of JSW's broader expansion into the automotive sector.