ENA Sectors 2024-05-24 17:08:42 <p><span style="font-size:14px"><strong>New Delhi, May 24 (KNN)</strong> Volkswagen Group's Chief Financial Officer, Arno Antlitz, revealed on Thursday that the German automotive giant is engaged in advanced negotiations to establish a partnership for passenger car production in India.</span></p> <p><span style="font-size:14px">Despite the challenges of generating profits in the Indian market, Antlitz expressed optimism about the country's potential as a growth opportunity for the company.</span></p> <p><span style="font-size:14px"> We are in very concrete and promising discussions regarding a potential partnership for passenger car production in India, Antlitz stated during his remarks at the Reuters Events Automotive Europe conference in Munich.</span></p> <p><span style="font-size:14px">He added, While earning profitability in the Indian market remains a formidable task, we must not underestimate its prospects as a burgeoning automotive market, especially considering the ongoing regulatory uncertainties between the United States and China. </span></p> <p><span style="font-size:14px">Antlitz's comments follow Volkswagen's recent supply agreement with Indian automotive manufacturer Mahindra &amp; Mahindra Ltd. in February.</span></p> <p><span style="font-size:14px">Under this agreement, Mahindra will utilise key electric components from Volkswagen's open platform for electric vehicles, signaling the German automaker's commitment to expanding its presence in the Indian market.</span></p> <p><span style="font-size:14px">Despite the challenges posed by the Indian market, Volkswagen appears determined to capitalise on the country's growth potential, particularly in light of the shifting global dynamics and regulatory landscapes.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37931 https://knnindia.co.in/news/newsdetails/sectors/volkswagen-in-advance-discussion-for-indian-production-partnership 2024-05-24 17:08:42 knnindia.co.in