German luxury car manufacturer Mercedes Benz is boosting its investment in the Indian processes to around Rs.850 crore by the next two year period as it gears up to beginsetting up more car models in the country.
Mercedes Benz’s Indian division, Mercedes-Benz India, presently possesses an assembly facility at Chakan in the state of Maharashtra where it is making an investment of more than Rs. 600 crore to expandits operations.
In a declaration, Mercedes-Benz India Managing Director & CEO Peter T Honegg stated that the said investment of around Rs. 850 crore will aid them tofortifytheir fabrication as well as operational potentialitieswith reference totheir subsisting products plustheirelectrifying and aggressive product offensive that they are setting up for the country.
This investment of approximately Rs.850 crorewill facilitatethe company to be ready for the coming time.
Honegg added that they are optimisticregarding the Indian market zone and this is reflected in theirlong run promisein the direction of the vibrant Indian market.
At the present time Mercedes-Benz India locally sets up its renowned sedans the C-Class, the E-Class in addition to the S-Class sedan.
Mercedes-Benz India is also planning tofabricate the novel M-Class, thus turning amongst the primary markets to beginsetting up the vehicle outside Daimler AGs parent sport utility vehiclefacility in Tuscaloosa in the United States.
While talking over on the growth, Mercedes-Benz India Director- Technical Piyush Arorastated that the company’s sturdy growth plan consists of the local manufacturing of several ground-breakingcars in the coming time, commencing with the novel M-Class.
The said investment is in harmonization with the developmentoutlooks from India and will additionallyfortify the array of locally made Mercedes-Benz models from the Indian procedures.
Mercedes-Benz India Chakan facility commencedprocesses in the year 2009 and the primary investment of Rs. 250 crore was increased proportionally to more than Rs. 600 crore with the establishment of the company’s paint shop competent of water based painting.
The innovative paint shop is said to be functional by October this year, and has a twelve monthlycapacitance of around 20,000 units.
Mercedes-Benz India added up thatbesides the planned augmentation in investment, its traders are also making investment of more than Rs. 480 crore spread crosswise its 31 showroom and 41 service shops situated in 31 Indian cities.