Volkswagen Group has released an official statement, detailing its plans to invest about 100 million euros or Rs 800 crore approximately into the Indian market, in order to expand its product portfolio in the country and also to further localise its production operations. The Group’s expansion plan comprises of a new sedan, compact SUV and 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 said. While, Kodumudi did not divulge the timeline for the investment, he said “further large investments will accompany decisions for further new models for the Indian and the export markets.”
The German automaker is considering vehicles in the compact sedan, compact hatchback and in the mini-SUV segment - all of which, are the fastest growing segments in the country. Volkswagen Group is hoping to achieve a “high single digit” market share in India before the end of 2020.
Volkswagen India on the other hand, is getting ready to roll out the Vento and Polo facelifts in the Indian market, while also considering the re-launch of Passat in the country.