Source Pravda.Ru

Volkswagen Starts Production Of Hatchback Polo In India

Volkswagen AG started production of its first compact car in India on Saturday, hoping to capture up to 10 percent of the country's fast-growing automobile market within the next six years, the company said.

The Polo, a compact hatchback, rolled off the lines at Volkswagen's factory in Pune, an auto hub a few hours outside Mumbai , shortly before noon. The factory, opened earlier this year, is part of a 580 million euros ($846.8 million) investment, which the company says is a "key element" in its India strategy.

The factory can produce up to 110,000 cars a year, and will be used to manufacture the Skoda Fabia, Polo and a sedan to be launched in the second half of next year, the company said, The Associated Press reports.

According to Bloomberg, the Wolfsburg, Germany-based company will sell cars under three brands, including Skoda AS and Audi AG, to achieve its targets, it said in a statement in Chakan, near Pune, in western India. Production of its Polo compact car began today at the plant, which opened earlier this year. Volkswagen will start selling the cars in March, challenging partner Suzuki Motor Corp., the maker of half of all cars sold in India.

"The Pune plant is a key element in Volkswagen’s strategy for India," said Jochem Heizman, a member of the company’s management board. India’s car market holds "enormous potential" for the German carmaker, he said.

"We know that we need a car below the level of the Polo," said Jochem Heizmann, a member of the board of Volkswagen. "We are working towards this but no decision has been made yet."

Volkswagen and Suzuki Motor plan to develop a new small car that would cost between $4,300 and $5,400 for the Indian market, following their recent tie-up, the Economic Times reported this week.

Volkswagen will buy a one-fifth stake in Suzuki Motor for $2.5 billion, tapping the Japanese firm's expertise in small cars and dominance in India as VW seeks to become the No.1 automaker, the companies said earlier in the week, Reuters informs.

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases
Comments
Russia to spend trillions to upgrade its army and navy before 2027
Russia to spend trillions to upgrade its army and navy before 2027
Capitalism reduced Indonesian cities to infested carcases
How Gaddafi’s Great Man-Made River Project became part of Water Wars
Russia to spend trillions to upgrade its army and navy before 2027
Russia to spend trillions to upgrade its army and navy before 2027
Unveiled: Secret Pentagon UFO program. From science fiction to science fact
Treasure of Catherine II times found in city centre of Moscow
Riots spark in Ukraine again, but people will not die for idiots this time
Russian PM Medvedev: USA undermines relationship with Russia for decades
Capitalism reduced Indonesian cities to infested carcases
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Capitalism reduced Indonesian cities to infested carcases
Capitalism reduced Indonesian cities to infested carcases
Capitalism reduced Indonesian cities to infested carcases
Capitalism reduced Indonesian cities to infested carcases
North Korea is not a threat to the US
North Korea is not a threat to the US
Saudi Arabia readies to enjoy cinemas and music for the first time in 40 years
Capitalism reduced Indonesian cities to infested carcases