Volkswagen will invest Rs 700 crore (100 million Euros) over the next two years to upgrade both its facilities and various products. Commenting on the investment, Volkswagen Group Chief Representative, India, John Chacko said “we need investments in improving our facilities, doing minor model changes for our exports and other areas. We are investing about 100 million Euros for the entire group in the next two years in India.”
However, the German auto giant has put on hold a separate plan to invest Rs 2000 crore for upgrading facilities due to being at loggerheads with the Maharashtra government over the issue of refunding VAT.
Speaking during the annual SIAM (Society of Indian Automobile manufacturers) convention in New Delhi, Chacko said the group was not going ahead with its other big investment plan for the country.
