Mercedes Benz to invest Rs 2,000 crore in its Pune factory

Mercedes Benz has decided to invest Rs 2,000 crore in upgrading its factory at Chakan in Pune, which the Maharashtra government says is an endorsement of its commitment to the ease of doing business in the state.

The company is planning to invest Rs 2,000 crore over five years in the unit.

"The Maharashtra government has received an application from Mercedes Benz, seeking to upgrade its manufacturing capacity in Pune which manufactures luxury cars from 40,000 to 80,000 units per year. This will also help in creating more jobs in the state and it shows the state's commitment to industries is being reciprocated," Apurva Chandra, industries secretary, Maharashtra told Economic Times.

Chief Minister Devendra Fadnavis who met Roland Folger, managing director and CEO of Mercedes India on Monday said that the state will ensure speedy clearance for the company's new unit.

Image credit: Indiatimes