Volkswagen plans $250 million investment in India

New DELHI Tue Jul 15, 2014 1:32pm IST

The logo of German carmaker Volkswagen is seen at a VW dealership in Hamburg, October 28, 2013.  REUTERS/Fabian Bimmer/Files

The logo of German carmaker Volkswagen is seen at a VW dealership in Hamburg, October 28, 2013.

Credit: Reuters/Fabian Bimmer/Files

Related Topics

Stocks

   

New DELHI (Reuters) - German carmaker Volkswagen AG(VOWG_p.DE) plans to spend 15 billion rupees ($250 million) in India over the next five to six years, a senior company executive told reporters on Tuesday.

Mahesh Kodumudi, president and managing director of Volkswagen India Pvt. Ltd., also said the company could increase its India plant capacity to 200,000 cars a year from 130,000.

Volkswagen is evaluating manufacturing engines in India, Kodumudi said.

The company on Tuesday launched a revamped model of its Polo hatchback. Volkswagen's market share in India fell to 2.1 percent for the fiscal year ended March 31 from 2.46 percent a year ago, according to data from an industry body.

(Reporting by Aditi Shah; Editing by Miral Fahmy)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Public Health

REUTERS SHOWCASE

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Market at Record

Market at Record

Sensex, Nifty hit record highs; reforms outpace hawkish Fed.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Samsung Results

Samsung Results

Smartphone woes drag Samsung Elec Q3 profit to more than 3-year low.  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage