FRANKFURT, March 10 Volkswagen and
Tata Motors said on Friday they had signed a
memorandum of understanding to explore a strategic partnership
in India, confirming a Reuters story from Thursday.
The two carmakers said they hoped to jointly develop vehicle
components and also possibly vehicle concepts for the Indian
subcontinent and overseas markets.
Volkswagen said its Skoda unit would lead the project.
"The first step will address topics such as the application
of specific market knowledge as well as local development
expertise. In the long term, the Volkswagen Group is looking to
further expand its product portfolio in the fast-growing
emerging markets," it said.
(Reporting by Georgina Prodhan; Editing by Christoph Steitz)