Volkswagen has strengthened its commitment toward India by investing Rs 720 crores in research and product development. The German manufacturer had been working of an India-specific compact sedan which will be added to VW's current portfolio. The compact sedan is scheduled for production, which will be commenced in the first half of 2016 at the Volkswagen Pune plant. The Rs 720 crore deal is a part of the Rs 1500 crore investment plan which was announced by VW India in the year of 2014. India has been a booming platform for Volkswagen and is expected to increase more with the coming future.
Speaking at the event, Dr. Andreas Lauermann, President and Managing Director, Volkswagen India Pvt Ltd. said, "We are following a long term investment plan in India and with our latest investment we have reaffirmed our confidence in this growing automotive market."
"With the ramp-up of the new model, we will add more manpower and also create more jobs at our suppliers' end", he further added.
Volkswagen's strategic plan is to aim at the requirements of the Indian customers which can be fulfilled in the future vehicles. The Volkswagen Pune plant is gearing up for the production of the new compact sedan. The manufacturing facility has been upgraded to accommodate the new changes and installation of modern equipment. The unveiling of the new model is scheduled at a global level which will be presented at the Auto Expo in February 2016, held in Greater Noida.
Volkswagen currently has about 3200 employees in its manufacturing plant where the German manufacturer produces the Polo, Vento and the Skoda Rapid.
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