Mercedes-Benz India to invest additional Rs250 crore by 2014
06 Sep 2012
Mercedes-Benz India will invest an additional Rs250 crore by 2014 as the country's third-largest luxury-car maker prepares to start assembling further models at its Pune plant.
The company has already invested Rs600 crore to set up its manufacturing plant, which is expected to be operational by October with an annual capacity of 20,000 units. The capacity can be scaled up to 40,000 units per annum.
''The total investment of Rs850 crore will help us strengthen our production and operational capabilities with regard to our existing products and the product offensive we are readying for the Indian market,'' Peter T Honegg, managing director and CEO, Mercedes-Benz India, said.
At present, Mercedes-Benz India locally manufactures the C-Class, E-Class and S-Class sedans at its Pune plant.
The Chakan plant in Pune has earned the benchmark of being among the fastest greenfield operations ever to be created and is rated among the top most completely knocked down plants of Mercedes-Benz, globally.
"We are bullish about the Indian market and this is reflected in our long-term commitment towards the dynamic Indian market,'' Honegg added.