1st product under 'India 2.0' to be rolled out by 2020: Volkswagen
The company, recently announced its India 2.0 project along with Skoda Auto through which it plans to invest around Rs 8,000 crore as part of its strategy to strengthen Indian operations.
The investments include, setting up of an engineering design development centre and also expanding the capacity at Chakan plant near Pune, Volkswagen Passenger Cars, Director, Steffen Knapp said here.
"Under the India 2.0 project we will be investing around Rs 8,000 crore. The first product will be launched by 2020 with high local content," he told reporters. Responding to a query, he said, the current local content of the vehicles sold were about 82 per cent and the proposed plan was to launch products in the MQB (Modularer
Querbaukasten or modular transversal toolkit) platform with localisation levels of"above 90 per cent."
The Indian subsidiary, was currently holding 1.3 per cent market share, he said adding the plan was to reach three per cent.
For the Volkswagen Group, the target market share was to reach five per cent by 2025 from the present 1.86 per cent, he said.
Volkswagen India currently has about 121 retail outlets across the country and would also look at expanding the dealer network in tier II and III cities, he said.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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