BMW to invest 1.8 billion in India by 2012
BMW, German Luxury auto maker, is planning an investment of Rs 1.8 billion in India by 2012 last quarter. The Indian auto market is showing an upsurge and to utilize the growth in its favour, BMW is expanding its. BMW India, the luxury car company started its production plant in India near by Chennai in March 2007 and invested almost Rs 1.1 billion in the domestic market.
As per the statement released, BMW, the premium car manufacturer put in Rs 1.1 billion, till 2010, September. The company plans to expand in the auto sector and will invest Rs 1.8 billion by 2012, last quarter.
The statement also quoted that the manufacturing unit of BMW in Chennai makes the premium sedans in diesel and petrol models of the BMW 3 Series and BMW 5 Series. The Chennai production unit will soon start manufacturing of BMW X1 probably by 2010 end. The production plant at Chennai recently manufactured the 10,000th luxury car from the unit. The manufacturing plant in Chennai has the capacity to manufacture 5,400 units every year in one shift with 400 employees working in the plant. The company also has a warehouse for the spare parts in Mumbai.
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As per the expansion plans, by 2011, the luxury car maker, BMW is expecting to increase the dealership of the company from 18 to 21 showrooms. This would help in generating 1,200 employment options in service and dealership networks.
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Andreas Schaaf, President BMW India, exclaimed with joy that experiencing that the company went on to be the leading luxury maker for the first time in the last year in the premium car segment, the company wishes to maintain the position in the domestic auto market by entering in the second stage of the expansion strategy.
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Juergen Eder, the Managing Director of the BMW Chennai Plant, expressing his views said that the manufacturing unit in Chennai rolled out the 10,000th car which is a achievement in the four years of its establishment. The company is extremely excited about the growth it has seen in the Indian auto market and expects to keep up with the increasing demand for the product.
BMW is a global brand and has as many as 24 manufacturing units in 13 countries and sells its premium cars in 140 or more countries with generating employment to more than 96,000 employees across globe.
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