Volkswagen to invest over Rs 800cr on new models,
localisation in India
NEW DELHI: German auto giant Volkswagen Group is planning to invest about 100 million euros (over Rs 800 crore) in India to expand business, including launches of sedan and SUV in the compact segment along with a hatchback. "At present, an investment of approximately 100 million euros is in the decision process for new models and for further localisation of parts and components," Volkswagen India president and managing Director Mahesh Kodumudi told PTI. While he did not share the timeline for the investment, he said "further large investments will accompany decisions for further new models for the Indian and export markets". "We intend to make these investments step-wise as decisions are realised. In summary, we intend to make these 'further large investments' over a period of the next few years before the end of this decade," Kodumudi said. When asked about new product launches and expanding VW's offering in India, he said: "Volkswagen is currently considering various options, including a compact sedan specially designed for India, a compact sports utility vehicle (SUV) and a compact hatchback." These are the fastest growing and largest segments in the Indian market, he added. "We are close to making decisions on some of these new models and we will announce at the right time," he said. Besides, the company is also working on product upgrades of existing volume models — Polo and Vento. "Along with these, we are also considering the re-introduction of the new generation Passat (premium sedan) as soon as possible," Kodumudi said.
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Volkswagen to invest over Rs 800cr on new models, localisation in India - The Times of India
