BMW to invest Rs 125 crore in India after 8% growth
Jun 19, 2017, 12:27 IST
BMW, the luxury carmaker from Germany is about to invest another Rs 130 crore in India to provide the push to its local operations.
This round of investment would take its total investment in the country to Rs 1,250 crore.
In the January-May period this year, BMW India has grown at the rate of 8%, having sold 3,533 units.
The Munich-headquartered company is also set to launch new version of its locally manufactured 5 Series later this month, while 6 Series Gran Turismo (GT) model would be launched next year.
Both these models are being launched with an aim to strengthen its product portfolio in India.
"Since 2007, we have been consistently investing in India. This year, we are going to increase our investment further to up to Rs 1,250 crore on a cumulative basis," BMW India President Vikram Pawah told ET.
"Next year, we will be introducing another model in between 5 and 7 Series, called the 6 GT and that would again define a new segment and create new market for us," Pawah said.
Talking about manufacturing in India, he said, "We are locally producing eight of our total 16 models that are available. So as we introduce new models, also the new 5 Series, will be produced in the Chennai plant."
He added that the 6 GT would also be manufactured in India.
"So all our main volume drivers as we call them will also be produced locally. Niche models will continue to come in CBU form. As the volumes increase we will continue to evaluate as what can manufactured locally," Pawah said.
(Image source BMW India)
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This round of investment would take its total investment in the country to Rs 1,250 crore.
In the January-May period this year, BMW India has grown at the rate of 8%, having sold 3,533 units.
The Munich-headquartered company is also set to launch new version of its locally manufactured 5 Series later this month, while 6 Series Gran Turismo (GT) model would be launched next year.
Both these models are being launched with an aim to strengthen its product portfolio in India.
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"Since 2007, we have been consistently investing in India. This year, we are going to increase our investment further to up to Rs 1,250 crore on a cumulative basis," BMW India President Vikram Pawah told ET.
"Next year, we will be introducing another model in between 5 and 7 Series, called the 6 GT and that would again define a new segment and create new market for us," Pawah said.
Talking about manufacturing in India, he said, "We are locally producing eight of our total 16 models that are available. So as we introduce new models, also the new 5 Series, will be produced in the Chennai plant."
He added that the 6 GT would also be manufactured in India.
"So all our main volume drivers as we call them will also be produced locally. Niche models will continue to come in CBU form. As the volumes increase we will continue to evaluate as what can manufactured locally," Pawah said.
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(Image source BMW India)