Volkswagen nears stake sale to JSW in India

Volkswagen is in advanced discussions with JSW Group for a potential investment in its India operations, aiming for a majority stake in Skoda Auto Volkswagen India Pvt. Ltd. Key issues such as valuation and the amount of capital to be invested remain unresolved as talks proceed. The deal would end VW’s years-long search for a local partner in one of the world’s fastest-growing auto markets, where the group currently accounts for around 2.5% of India’s passenger vehicle market. JSW seeks a substantial stake to expand its automotive footprint, with potential synergies including access to VW platforms and existing partnerships in India. VW has said it is evaluating various options to advance its India strategy and reiterated its commitment to the market, while noting the discussions are preliminary and not comments on speculation. Reports have also cited VW scaling back its India EV platform investment to about $700 million, reflecting broader adjustments in its India strategy.