Volkswagen cuts India EV costs, seeks local partner

Tighter carbon emission rules kick in from 2027

- ALISHA SACHDEV

VOLKSWAGEN AG IS slashing costs of developing electric vehicles in India by a third and scouting for a local partner to help boost its tiny market share, according to people familiar with the matter.

The local unit of Europe’s biggest automaker has cut costs to about $700 million from $1 billion for a platform it is developing to build EVs, said people familiar with the matter who spoke on the condition of anonymity.