AutoGyaan: Mercedes-Benz to invest Rs 850 crore in India by 2014
Mercedes-Benz India is all set to invest Rs 850 crore by 2014. The German automobile giant who started its 100 acre facility in Chakan in 2009 has scaled the initial investment of Rs 250 crore to an additional Rs 600 crore while setting up its paint shop. Scheduled to be operational by October this year, the plant will have an extended annual capacity of 40,000 units. In addition to this investment, the company has already invested more than Rs 480 crore in setting up its showrooms and service centres in India.
Peter T Honegg, managing director & CEO, Mercedes-Benz India commented: We are bullish about the Indian market and this is reflected in our long term commitment towards the dynamic Indian market. The investment of Rs 850 crores will help us strengthen our production and operational capabilities with regards to our existing products and our exciting and aggressive product offensive which we are readying for the Indian market. This investment will enable Mercedes-Benz India to be future ready.