Volkswagen is going to expand its influence in India. The company will invest in the country to survive in the competition with South Korean firms.
The investment program includes the expansion of the production and the opening a center for the development of new products. It is planned to attract about one billion Euros up to 2021. Additionally, Volkswagen is going to create a new platform. It will be used in a wide range of new models and series.
Thus, the concern is planning to prepare a base for strengthening its positions in the region. Investments will help to provide worthy competition to such manufacturers as Suzuki, Hyundai and Honda.
By the year 2025, Volkswagen will expand its market share to 5%. This was reported by Bernhard Maier, CEO of Skoda Auto, who is responsible for the development of the company in the Indian market. Skoda Auto is part of the Volkswagen Group.
Earlier, the media made public that the concern was going to spend 15 billion Euros on the development and creation of electric vehicles and unmanned aerial vehicles. So, Volkswagen will operate in a variety of ways in the coming years.
The material was prepared with the participation of Anjela Chromova,
a leading analyst of the brokerage company CT Trade