Business Daily from THE HINDU group of publications
Wednesday, August 30, 2006
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Business Daily from THE HINDU group of publications Wednesday, August 30, 2006 |
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News Update as at 18.00 hrs (IST)
Corporate NEW DELHI: German luxury car maker BMW on Wednesday said it would begin production of cars in India early next year and expected sell about around 1,000 units in the first year of operation where it would produce '3' and '5' series models. "The first car will be delivered to our dealers by February- March next year and we hope to have 8-9 dealerships across major metropolitans by 2009," BMW India President Peter Kronschnable said at Gurgaon, where the company will be having the headquarter of its India subsidiary. Mr Kronschnable said the company is investing 20 million Euros (approx Rs 110 crore) for setting up its plant at Chennai, which would have an initial production capacity of 1,700 units per annum on a one-shift basis. He said while deliveries of the 3 series cars would start by February-March, the locally produced 5 series models would be available by May-June. - PTI
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