Business

VW's Skoda, Tata end cooperation talks after failing to hit cost targets

Published: 6:20 PM, August 10, 2017

BERLIN - Volkswagen's <VOWG_p.DE> Czech division Skoda said talks with India's Tata Motors <TAMO.NS> on a strategic alliance have ended because the two carmakers failed to achieve planned cost savings.

"The two companies have come to the conclusion that at the present point of time the technical and economic synergies cannot be realized in the desired way," Skoda said on Thursday.

But the Czech carmaker did not rule out the possibility for future cooperation with the Indian rival after the "intensive and constructive talks" in past months. REUTERS