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Mercedes Benz Increase Investment For 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."
Mercedes-Benz India spearheaded the luxury car industry in India by establishng its India operations in 1994. In 2009, the company moved into its world class production facility spread over 100 acres in Chakan. The new plant quickly attained the benchmark of being among the fastest green-field operations ever to be formulated and is rated among the top most CKD plants of Mercedes-Benz, globally.
The initial investment of Rs 250 crores was scaled upto to Rs 600+ crores with the setting up Mercedes-Benz India's own technologically advanced paint shop. The Technologically advanced paint shop is capable of water based painting. The new paint shop is proposed to be operational by October, 2012 and has an annual capacity of 20,000 units (which can be extended up to 40,000 units annually).
Piyush Arora, Director- Technical, Mercedes-Benz India added "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 and will further strengthen the range of locally manufactured Mercedes-Benz models from the Indian operations."
The German luxury car manufacturer will also be looking at adding new touchpoints each year going forward on a sustained manner for mid and long term growth.
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