In discussions with potential local partner: Skoda Auto Volkswagen India

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In discussions with potential local partner: Skoda Auto Volkswagen India - Business Standard

Quick Summary:

Skoda Auto Volkswagen India on Monday said it is in discussions with a potential partner regarding possible collaboration in India, refuting speculation that it has halted the process of finding a local collaborator after the investigation over alleged customs duty fraud.

The company, which is leading the German automotive group Volkswagen's India operations, asserted that finding a local partner in India and the show cause notice by authorities for alleged customs duty fraud to the tune of Rs 11,000 crore (about USD 1.4 billion) over import of cars as completely knocked down units, are completely separate and unrelated.

"To fully explore the country's growth potential, we are always considering new business opportunities and are evaluating various options to ensure the best possible solution to implement our strategy in the highly dynamic Indian market.