Volkswagen AG is in advanced negotiations to sell a stake in Skoda Auto Volkswagen India Pvt. Ltd. to the JSW Group. The industrial conglomerate is reportedly seeking a majority stake in the German automaker's Indian subsidiary.
The deal aims to inject fresh capital to strengthen Volkswagen's operations in one of the world's fastest-growing car markets. Both parties expect to finalize an agreement in the coming weeks.
Current discussions cover valuation, capital commitments, and the final deal structure. This move follows Volkswagen’s multi-year search for a local partner to expand its presence and market share in India.