Volkswagen in Talks to Partner on Production in India
By David Sachs
Volkswagen Group is in talks to partner on car production in India.
The German carmaker, which operates two factories in the country, is having concrete discussions about production partnerships, a spokesman confirmed Friday. The talks were first reported by Reuters.
India's market is heavy on less expensive, entry-level cars with lower profit margins, making it difficult to make money there, the spokesman said, echoing comments made Thursday by Chief Financial Officer Arno Antlitz during a conversation about trade tensions between the EU and China and the U.S. and China. Still, the company regards the market as having potential, the spokesman said.
India accounted for about 1% of global deliveries for the group last year, according to the carmaker's annual report. Volkswagen brand Skoda previously announced plans to design and manufacture a model in India in 2025.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
May 24, 2024 04:56 ET (08:56 GMT)
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