Mercedes to invest $71m in Pune- India, set up two new car lines image

German automaker Mercedes Benz plans to invest $71m (INR350crores) to build its second and third car production lines at its plant near Pune – India.

The maker of the premium S Class sedan is also planning to unveil the new A Class, B Class, a new SUV, a small coupe and one more product (GLC likely ) which will be assembled at its Chakan plant over the next two years and will also unveil 10 new models in India after their global debuts by 2015.

“India is an important growth market for us, where we see quite some potential for the future. In order to tap this potential we will be continuously expanding our presence in this key market.

This will happen, for example, by enlarging our dealer network, but also by ramping up production capacities accordingly,” Mr Dieter Zetsche, Chairman of the Board of Management, Daimler AG and Head, Mercedes-Benz Cars Division said.

Daimler AG posted its best ever annual results in 2011 with net profit of over 6.0 billion and group revenues worth 106.5 billion. As part of its Vision 2020, Daimler aims to be the largest premium car-maker in the world with India and China being at the core of its future strategy.