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Volkswagen Group’s Skoda division said talks with India’s Tata Motors on a strategic alliance have ended because the two automakers failed to achieve planned cost savings.
Renault is poised to raise its bet on Russia, voting with other shareholders in troubled AvtoVAZ to launch an 85 billion ruble (1.2 billion euro) recapitalization in which the French carmaker may be the sole cash contributor.
Volkswagen Group is not considering the sale of any of its brands or a capital increase to cope with the costs of its emissions scandal, Chairman Hans Dieter Poetsch told German business daily Boersen-Zeitung.
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