The company is looking forward to invest these huge amount in order to bring new model to the market, update its existing portfolio and make available necessary parts and services all across the country.
German car maker giant, Volkswagen Group is looking to strengthen its presence in India in order to achieve its global goal. The company will invest about 100 million euros to strengthen its product portfolio and customer service capabilities.
Mahesh Kodumudi, President and MD, Volkswagen India told news agency that “At present, an investment of approximately 100 million euros is in the decision process for new models and for further localization of parts and components,” and “further large investments will accompany decisions for further new models for the Indian and export markets.”
While explaining the strategy he said that “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.”
The company is looking forward to introduce a compact sedan, a compact SUV and a compact hatchback as a part of this strategy. While trading on its plan of becoming world leader, “India is expected to become one of the biggest automotive markets in the world and Volkswagen wants to be a part of this growth. As far as market share is considered, the Volkswagen Group aims to achieve a high single digit market share before the end of this decade.” Said Mr. Mehesh.
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