Škoda Auto Volkswagen India nears joint venture with JSW Group

Škoda Auto Volkswagen India (SAVWIPL) is in advanced negotiations to form a joint venture with the Indian industrial conglomerate JSW Group to accelerate electric vehicle (EV) development in India. The proposed deal would see SAVWIPL sell a 51 percent majority stake to JSW Group, giving the Indian firm operational control.

The partnership aims to fund and develop the India Main Platform (IMP), an electric architecture derived from China’s CMP platform, designed specifically for the Indian market. This collaboration follows a reduction in SAVWIPL’s local EV platform development budget from $1 billion to approximately $700 million due to group-wide cost-cutting measures.

The joint venture is expected to utilize manufacturing facilities, potentially including a new JSW Motors plant in Maharashtra located near the existing Škoda factory. If a memorandum of understanding is signed in the coming weeks, the formal establishment of the joint venture is anticipated between late 2026 and 2027.