BMW plans to invest Rs 70 crore

BMW plans to invest Rs 70 crore

The new investment will be in addition to Rs 110 investment made by the company in setting up the Chennai plant.

“We will further step up investment in India to cope with the growth market of India. As a first step, production capacity at the BMW plant in Chennai has been increased from 3,000 to 5,400 units and the dealer network further expanded,” BMW AG Member Board of Management Frank-Peter Arndt BMW AG said on Tuesday. BMW also launched its new new sports utility vehicle X5. The company’s two new sports utility comes in both petrol and diesel variants and is priced between Rs 52.99 lakh and Rs 69.50 lakh.

In addition to strengthening capacity, a new vehicle logistics centre will also be set up on the grounds of the Chennai plant, for which land has already been acquired, he said.

To meet rising customer demand for BMW vehicles and services, its sales network will be systematically expanded to 22 dealerships by 2011 – almost doubling its size since early 2009, Arndt said.

Towards the end of this year, BMW Financial Services will also begin offering its financial services in the Indian market for the first time, he indicated.