Follow Us:
Friday, July 20, 2018

Mercedes to increase India investments

Mercedes-Benz India further increase its investment to Rs 850 crores by 2014.

Written by Express News Service | New Delhi | Published: September 5, 2012 5:26:44 pm

Mercedes-Benz India today announced that it will further increase its investment in India to Rs 850 crore by 2014.

“We are bullish about the Indian market and this is reflected in our long term commitment towards the dynamic Indian market. The investment will help us strengthen our production and operational capabilities with regards to our existing products,” said Peter T Honegg,Managing Director & CEO,Mercedes-Benz India.

Mercedes-Benz India started its India operations in 1994. In 2009,the company moved into its world class production facility spread over 100 acres in Chakan near Pune. The luxury automaker has set up a new paint shop (initial annual capacity of 20,000 units )capable of water based painting which will be operational by October.

At present,Mercedes locally manufactures its flagship sedans the C-Class,the E-Class and the S-Class sedan in its plant in Chakan.

Recognising the emergence of high potential growth markets in India,Daimler AG has selected Indian facility to start assembling the new M-Class,the first outside the parent SUV plant in Tuscaloosa in Alabama

“Mercedes-Benz India’s aggressive growth plan includes the local manufacturing of several new models in the coming years,beginning with the new M-Class. This fresh investment is in sync with the growth expectations from the Indian market,” added Piyush Arora,director-Technical,Mercedes-Benz India.

For all the latest Business News, download Indian Express App