Volkswagen to invest Rs 1,500 cr to boost production

The Volkswagen group, which had put on hold investments and product launches due to uncertain economic conditions, on Wednesday said it was looking at investing Rs 1,500 crore over the next five years to set up a diesel engine manufacturing facility and introduce models.

Mahesh Kodumudi, president and managing director, Volkswagen India, and head of Volkswagen Group Sales India, said, "We have not launched a new product lately but that should not be construed as our lack of interest in the Indian market. We were consolidating our operations and are now ready for our next phase of expansion."