Reuters logo
Volkswagen plans $250 million investment in India
July 15, 2014 / 8:03 AM / 3 years ago

Volkswagen plans $250 million investment in India

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.

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

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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below