Volkswagen investment plans on track; to import LCVs next yr

Subscribe to Oneindia News

New Delhi, Nov 18 (UNI) German auto major Volkswagen today said its investment plans relating to India are on track notwithstanding the global meltdown and said the company which caters to upmarket clients will start importing Light Commercial Vehicles (LCVs) in the first half of next year.

''The company does not see any impact of the current global economic slowdown and its investment plans are on track,'' Volkswagen India president and Managing Director Joerg Mueller told reporters here on the sidelines on India Economic Summit.

He said the company will start importing light commercial vehicles (LCVs) in the first half of next year, adding that the auto major's Indian plant with a capacity of 1,10,000 vehicles is also expected to become operational by 2009-end.

The company is investing 580 million euros (about Rs 3,600 crore) in setting up a manufacturing facility at Chakan in Maharashtra.

It plans to launch its compact car based on the Polo platform in two variants -- hatchback and sedan -- once it starts production at its Chakan plant in Maharashtra.

Earlier, the company had said it was looking at exporting components worth at least one billion euros from Indian supplier firms within next two to three years and was also planning to use India as an export market for components to Europe.

Currently, the auto major has eight dealers in the country and plans to increase the number to 15 by this year-end.

UNI TEAM AK SB DS1402

Please Wait while comments are loading...