Mercedes to invest Rs 1,000 cr on luxury car production in Mah

Image
Press Trust of India Mumbai
Last Updated : Sep 29 2015 | 4:02 PM IST
Mercedes Benz will invest Rs 1,000 crore on production of luxury cars in Maharashtra.
The announcement was made in a meeting between state Chief Minister Devendra Fadnavis, MD & CEO of Mercedes Benz India Eberhard Kern, and future MD and CEO of the company, Roland Folger, on Monday evening, an official said today.
Fadnavis also assured complete support of the government to the project.
Mercedes Benz has also appreciated government's Jalyukt Shivar Scheme and has expressed desire to contribute towards it, he said.
Earlier this month, Mercedes-Benz India had announced it has decided to produce the Mercedes-Maybach S500 from its Chakan plant in Maharashtra.
The Mercedes-Maybach S500 will be the most luxurious Mercedes Benz ever to be locally produced for the Indian market. India will be the second country after Germany where the Mercedes-Maybach S500 will be manufactured.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 29 2015 | 4:02 PM IST

Next Story