Last year, the German automotive giant set aside to an investment of Rs 1500 crores. After the engine assembly plant commissioned last year, the second instalment of this investment is coming to fruition
In a bid to design and develop a fresh India-specific compact sedan, Volkswagen have invested Rs 720 crore. This will be directed towards product development, infrastructure and upping production capacity. The new sedan will be shown at the Auto Expo 2016 and will commence production in mid-2016.
Commenting on the investment, Andreas Lauermann, President and MD, VW India, said, “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.”
Emphasising on the product development of the new sedan, Michael Mayer, Director, VW, India said, “With our new compact sedan, we will focus intensively on the specific requirements of our Indian customers”
When launched, the new compact sedan will lock horns with the likes of the Honda Amaze, Ford Figo Aspire and the Maruti Suzuki Swift Desire.
