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VW to invest $250 million in India

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VW to invest $250 million in India

The German automotive group plans to lodge around 15 billion rupees ($250 million) in the next five to six years in the country, according to a top company executive from the carmaker’s Indian unit.

Mahesh Kodumudi, president and managing director of Volkswagen India, further added that Volkswagen AG also wants to raise production output from 130,000 units to around 200,000 cars per year. Kodumudi also disclosed that within the planned strategy for expansion, the automaker also mulls the production of engines in the country.

Currently, the carmaker – the second largest in the world – is producing in India models for the Audi, Skoda and VW brands in two facilities in Aurangabad and Pune. The core Volkswagen brand recently launched in the country a revamped version of its successful subcompact model, the Polo hatchback.

Volkswagen, which mostly relies on gains from the Asia-Pacific region, actually lacks a deep market penetration in emerging markets like India or other countries in the Southeast Asia – all dominated by very affordable models. Back in April, the automaker said it settled on the basic concept and design for its future budget model aimed to compete in the mentioned markets, which should compete with offerings like Tata’s Nano or Renault – Nissan’s Dacia Logan version.

Via Automotive News Europe

by Aurel Niculescu (my Google+) - Wednesday, July 16th, 2014 - filed under Industry, News, Volkswagen. Image credit: .
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