The logo of German car giant Volkswagen (VW) is seen on a Volkswagen ID Buzz van during the company's annual press conference to present the business report, on March 14, 2023 in Berlin.
Volkswagen is in concrete talks about partnering up on passenger car production in India, the group's finance chief said on Thursday, adding it was tough to earn money in the market that still presents a "clear" opportunity.
"We are in very good discussions," Arno Antlitz told the Reuters Events Automotive Europe conference in Munich, "it's very, very concrete," he added, without specifying.
"I think we shouldn't underestimate the potential in India in terms of a market ... and in terms of regulatory uncertainty between the U.S. and China.
At 101,553 delivered vehicles, India is so far a small market for Volkswagen, accounting for little more than 1% of deliveries across the whole group in 2023.
Persons:
Arno Antlitz, Antlitz
Organizations:
Volkswagen, Reuters, Automotive, U.S, India's Mahindra, SKODA, Audi, Porsche, Lamborghini
Locations:
Berlin, India, Munich, China, Washington, Beijing, Aurangabad, Pune