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Market Chatter: Volkswagen, JSW Group Said Discussing $1.4 Billion Tax Bill in Planned India JV

MT Newswires·09/24/2026 08:15:43
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08:15 AM EDT, 09/24/2026 (MT Newswires) -- Industrial conglomerate JSW Group is asking Volkswagen (VOW.F, VOW3.F) to pay the $1.4 billion local tax bill for the companies' planned car production joint venture in India, Bloomberg News reported Thursday, citing people familiar with the matter. Following the signing of a nonbinding memorandum of understanding for the joint venture earlier in September, the partners are now carrying out financial due diligence, with the deal's final valuation yet to be determined. The tax liability is also among the outstanding issues that could impact the agreement, the sources added. Volkswagen and JSW Group did not immediately respond to requests for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)