Mahindra & Mahindra (M&M) and Skoda Auto Volkswagen India (SAVWIPL) are reportedly set to hold meetings in Mumbai over the coming days to discuss forming a potential joint venture (JV) for car manufacturing in India, according to sources familiar with the discussions.

"The board members of SAVIWPL and M&M are scheduled to meet soon", one source mentioned, adding that the talks are progressing positively. Both companies are expected to focus on product strategies, vehicle platforms, and factory utilization for the proposed JV.

The JV would not include the sedans and SUVs currently sold in India by Volkswagen and Skoda, nor the luxury brands under the Volkswagen Group, such as Audi, Porsche, and Lamborghini, according to one insider.

Earlier reports from ET on August 30 indicated that M&M and Volkswagen Group's Indian subsidiary were in advanced discussions to form an equal partnership. The collaboration would enable them to share costs, technology, and vehicle platforms for future development.

Skoda, which leads Volkswagen Group’s strategy in India, will be represented in the talks by Klaus Zellmer, chairman of Skoda Auto, who is currently in Mumbai.

The discussions are expected to result in a Memorandum of Understanding (MoU) as early as late October or early November. Both Mahindra and SAVWIPL declined to comment on the matter.