4.00 (1.21%) Tata Motors, one of the pioneers in Indian automobile industry, has signed memorandum of understanding (MoU) with Volkswagen Group to explore a possible joint technical collaboration or joint venture on vehicle architecture, engines and component sourcing. The two companies have been negotiating the structure of the partnership for over a year.
Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.