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Mahindra to Acquire 50 per cent Stake in Skoda Auto Volkswagen India for 1 Billion USD
Mahindra & Mahindra is in talks to acquire a 50% stake in Skoda Auto Volkswagen India for $1 billion. The deal will focus on electric SUVs using Volkswagen’s MEB platform.
Mahindra & Mahindra (M&M) and the Skoda Auto Volkswagen India (SAVWIPL) group are reportedly in advanced talks to buy a 50% share in the latter, which could be worth up to $1 billion. The two companies will enter into a Memorandum of Understanding (MoU) as part of the arrangement, which is anticipated to be formalised soon. The two will work together to create electric SUVs utilising VW's MEB platform.
According to sources, Skoda's board of directors is presently in India, and the two firms' negotiations have advanced considerably. The goal of ongoing meetings is to finalize the agreement's details. If Mahindra is successful, Skoda Auto Volkswagen's worldwide technology—including car architectures—will be available to it. The use of common platforms and technologies will help both businesses.
The German automaker's Indian subsidiary, SAVWIPL, is valued anywhere from USD 800 million to USD $1 billion. Mahindra would receive half of this valuation, which would encourage cooperation and platform sharing. After searching for partners in India for more than a year, the Skoda VW group may have achieved a major turning point in the country's electric car industry with this transaction.
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