BERLIN (Reuters) - Volkswagen's (>> Volkswagen) Czech division Skoda said talks with India's Tata Motors (>> Tata Motors Limited) on a strategic alliance have ended because the two carmakers failed to achieve planned cost savings.

"The two companies have come to the conclusion that at the present point of time the technical and economic synergies cannot be realized in the desired way," Skoda said on Thursday.

But the Czech carmaker did not rule out the possibility for future cooperation with the Indian rival after the "intensive and constructive talks" in past months.

(Reporting by Andreas Cremer; Editing by Tom Sims)

Stocks treated in this article : Volkswagen, Tata Motors Limited