Volkswagen: Arno Entlitz, chief financial officer at VW Group, claims that the company is placing more emphasis on India due to the country’s potential for growth. Entlitz reportedly stated in an interview that he is concentrating on keeping a better position in India. As part of its India 2.0 strategy, the VW Group has updated its lineup by introducing new vehicles like the Taigun SUV and Virtus Sedan. The manufacturer has failed several previous attempts to expand its business in India. But the company is now attempting to concentrate on India.
Volkswagen returning to India
“We’re turning our attention to India to be more robustly positioned in this new world,” Antlitz said in an interview with a Magazine. “India has enormous growth potential in my view.”
Why is this happening?
According to an article, India’s large prospective market is once again paying the corporation attention as US-China tensions rise and the Asian giant supports Russia following the invasion of Ukraine.
The manufacturer is searching outside of the US for regions with growth potential in light of escalating geopolitical tensions and a more complicated regulatory environment.
In India, the public did not get to witness such strong growth in electric passenger transport. Manufacturers are concerned about the high upfront production costs, and buyers are concerned about the lack of charging infrastructure, but demand for affordable battery-powered SUVs is growing. Indian automakers are now forced to compete in the market with Chinese and South Korean producers.
In August, VW announced that it was pushing forward with a component supply agreement for five brand-new electric sport utility vehicles from Mahindra & Mahindra Ltd. of India. Volkswagen also indicated that it intended to investigate ways to collaborate to electrify the Indian market more swiftly.
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