VW to invest in India

VW to invest in India

BOMBAY (AFP): German automaker Volkswagen plans to invest more
than US$100 million in a joint venture car factory in India, The
Economic Times reported here Saturday.

A Volkswagen official was quoted as saying that the company
was likely to join forces with an Indian firm to set up the
factory, expected to be built in the southern city of Bangalore.

Two Indian companies have been shortlisted for the joint
venture, it said.

"If things go well we hope to start production within a year,"
the official was quoted as saying. "Our plans are to produce
50,000 cars a year, both in our upper segment Audi range and the
medium Skoda range.