German automaker Volkswagen AG will begin producing a new compact sedan at its plant in Pune in the first half of 2016. The carmaker has invested Rs 720 crores in the the production and development of the model which has been specifically designed and developed for India.
With the launch of the new compact sedan Volkswagen will add a new model to its product portfolio. The car will be manufactured at the company's Chakan plant near Pune.
The investment by Volkswagen India is part of the Rs 1500 crore the company said in 2014 it would invest in the country, Volkswagen India Private said in an emailed statement.
The global premiere of the new sedan is scheduled at the AutoExpo in February 2016.
With the latest investment in the new compact sedan, Volkswagen has now invested around Rs 5,500 crore in India at the Pune plant since it started its operations in 2007.
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