The largest European car maker Volkswagen is aggressively planning to expand its footprints in the high growth potential Indian market. The company is planning to invest a sum of up to Rs 2,000 crore in its India operations by year 2013, in a bid to enhance the production capacity. A significant part of this investment will be utilized in developing and launching new products in the Indian auto market.
The company is looking forward to roll-out its small hatchback Up! in the Indian market by year 2013-14. The Up1 model has already been launched in the European markets and it will be competing with the likes of Hyundai i10 and Maruti Swift in the Indian market following its launch.
In a statement given to PTI, Mr. John Chacko, Volkswagen Group’s Chief Representative India, said, "We have plans for investing at least Rs 2,000 crore additionally by 2013. This will be an investment by the entire group." He added, "There are huge opportunities to expand in India. This amount will cater to ramping up our production capacity, introducing new models and enhancing our R&D work here."
The company has two manufacturing units in the Indian market one each in Chakan and Aurangabad in Maharashtra. Besides brand Volkswagen, the Volkswagen Group also comprises of luxury car brand Audi and premium car maker Skoda.
Recently Viewed
Trending Searches
