Volkswagen’s latest move: A far cry from PM Wickremesinghe’s claims (Video)

Volkswagen’s latest move: A far cry from PM Wickremesinghe’s claims (Video)

Written by Lahiru Fernando

13 Mar, 2017 | 6:26 am

German car-maker Volkswagen has signed a memorandum of understanding to explore a partnership with an Indian car manufacturer. The company has targeted the subcontinent region and beyond.

However, earlier this year Prime Minister Ranil Wickremesinghe claimed that Volkswagen was not investing in Sri Lanka as the car-maker was facing a global crisis.

January 5, 2017 – “At the end of 2015 and the beginning of 2016, Volkswagen was facing a major international crisis and was under investigation. So, the government said to not take an investment from Volkswagen.” – Prime Minister

As per the memorandum of understanding with India’s TATA Motors, the manufacturers will jointly develop auto components and vehicles for the Indian subcontinent and beyond.

Indian media reported that the announcement comes as both automakers look to hit the reset button in India after falling behind more nimble rivals.

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