Volkswagen has announced the launch of its new compact sedan at the Auto Expo 2016 which will be conducted from 5-9 February 2016. The car is not yet named by the company. VW has invested INR 720 crore in the development of this sub 4-meter car. The car will be produced at the VW plant in Chakan near Pune. The Volkswagen Polo, Vento and Skoda rapid are currently produced in this plant. No technical information is provided by the company till now.
“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 our new compact sedan, we will focus intensively on the specific requirements of our Indian customers,” said Andreas Lauermann, president and managing director, Volkswagen India.
Volkswagen India has mentioned that this INR 720 crore investment is for the installation of equipment and boosting up the production of the new compact sedan. The new car is claimed to be designed and developed specially for India. This will help in strengthening the country’s domestic line-up. The INR 720 crore investment is a part of the INR 1,500 crore investment to be made in India. This was announced by Volkswagen in 2014.
The new investment will make the total investment of Volkswagen in India to go up to INR 5,500 crore in the Pune plant after it started its business in 2007. It currently provides employment to 3,200 workers at plant at Chakan. This number will go up when the production of the new compact sedan will begin. The production of the new car will commence in the first half of 2016 itself.