For lack of technical or economic synergies, leading automotive players Skoda Auto and Tata Motors Ltd have ended their detailed negotiations on a strategic partnership. Skoda has assessed and evaluated a potential strategic collaboration with Tata Motors Ltd over recent weeks and months, a Skoda press note said.
In doing so, both companies have concluded that at present, neither the technical nor the economic synergies are achievable to the extent desired by both parties.
As a result, a planned strategic alliance will no longer be pursued for the time being. Both companies would like to emphasise that following the intensive and constructive discussions of the last few months, they are not ruling out possible future collaborations, the release added.
Volkswagen Group and NXP Semiconductors announced ahead of the International Suppliers Fair (IZB) in Wolfsburg that they had agreed on a strategic partnership.
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