German automobile manufacturer Volkswagen is planning to spend an amount of Rs 1,500 crore in the Indian auto market by 2019-20. The fresh influx of capital is likely to be used to increase capacity production.
According to Mr. Mahesh Kodumudi President and Managing Director Volkswagen India, the carmaker is considering ramping up its production capacity from the current 1,30,000 units a year to 2,00,000 annually.
Also under consideration is the plan to manufacture engines in India, stated Mr. Kodumudi.
The automaker’s share in the Indian auto market fell to 2.1 percent in the 2013-14 fiscal in comparison to 2.46 percent share in the fiscal 2012-13.