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Volkswagen plans new India sedan

To invest Rs 720 cr in the project and ramp up production
Last Updated 25 November 2015, 20:45 IST

 Amid all the controversies surrounding the company globally, Volkswagen has announced that it will invest Rs 720 crore in its Indian operations for an India-specific compact sedan.

The investment of Rs 720 crore is towards development, setting up new equipment, and ramping up the production of the new compact sedan. This is part of the Rs 1,500 crore investment that was announced by Volkswagen India at the beginning of 2014, the auto company said.

With the investment in the new compact sedan, which has been specifically designed and developed for India, Volkswagen will add a new model to its product portfolio. The production of the compact sedan at Volkswagen Pune plant is scheduled to commence in the first half of 2016, the auto company added.

Volkswagen Pune plant is getting ready for the production of the new model with changes and installation of new equipment at its existing manufacturing facility in Chakan. The plant will start producing the new India-specific Volkswagen car from the first half of 2016 and its premiere is scheduled at the AutoExpo in February 2016.

“We are following a long-term investment plan in India and with our latest investment we have reaffirmed our confidence in this growing automotive market,” Volkswagen India president and managing director Andreas Lauermann said. “With our new compact sedan, we will focus intensively on the specific requirements of our Indian customers,” Lauermann added.

With the latest investment in the new compact sedan, Volkswagen has now invested approximately Rs 5,500 crore in India at the Pune plant since it started its operations in 2007. Currently, about 3,200 employees are working at this manufacturing facility where the Volkswagen Polo, Volkswagen Vento, and SKODA Rapid are being produced.

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(Published 25 November 2015, 18:04 IST)

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