| Luxury car
manufacturer DaimlerChrysler India Ltd announced
its plans to invest Rs. 275 crore over the next
two years in its new facility at the MIDC’s
Chakan industrial estate near Pune.
Coming up over an area of 40 hectares,
the new manufacturing facility will manufacture
the C Class, E Class and S Class cars for the India
market.
The Company will make 5,000 cars
at the plant where production is expected to begin
in the early part of 2009. Wilfreid Aulbur, Managing
Director and Chief Executive Officer for DaimlerChrysler
India, also indicated that the Company may make
its Actros heavy duty trucks at the plant.
Joachim Shmidt, chairman of the board, DaimlerChrysler
India also revealed that the Company may consider
bringing other products into the lower segments
if the market is ready for it at a later date.
Currently the extent of localisation
of the C class vehicles is 50 % and a little less
than that for the E Class and S class. Issues related
to excise duties were the main deterrents in the
localization process.
The Company sold 2,121 vehicles in 2006, a rise
of 11 % over the 1,915 vehicles sold in 2005. With
wider acceptance among the high income groups, it
hopes to sustain and increase this growth rate in
the future.
|
