Volkswagen Group is turning its attention to India as the country "offers enormous growth potential," according to Chief Financial Officer Arno Antlitz.
“We are turning our attention to India to be more robustly positioned in this new world,” Antlitz reportedly said in an interview with Porsche Consulting Magazin.
According to Bloomberg, the automaker’s earlier efforts to boost its presence in India have often been bruising experiences. An alliance with Suzuki ended in a fierce legal dispute before a single car was built and talks over teaming up with Jaguar-maker Tata Motors did not go anywhere.
But as U.S.-China tensions mount and the Asian giant’s seeming support of Russia after its invasion of Ukraine raises hackles, India’s large potential market is once again drawing the company’s attention, the report said.
Volkswagen Group wants to remain a strong player in Europe and China, but in the face of growing geopolitical tensions and an increasingly complex regulatory environment, the automaker is looking beyond the U.S. for markets with growth potential, Antlitz was quoted as saying by the report.