"We are bullish about the Indian market and this is reflected in our long term commitment towards the dynamic Indian market. The investment of Rs 850 crores will help us strengthen our production and operational capabilities with regards to our existing products and our exciting and aggressive product offensive which we are readying for the Indian market, said Peter T Honegg, Managing Director & CEO, Mercedes-Benz India.
MBIL pioneered the luxury car industry in India by starting its India operations in 1994. In 2009, the company moved into its production facility spread over 100 acres in Chakan. The initial investment of Rs 250 crores was scaled upto to Rs 600+ crores with the setting up Mercedes-Benz India's own technologically advanced paint shop capable of water based painting. The new paint shop is targeted to be operational by October, 2012 and has an annual capacity of 20,000 units (which can be extended up to 40,000 units annually).
Mercedes-Benz India locally manufactures its flagship sedans the C-Class, the E-Class and the S-Class sedan in its plant in Chakan near Pune. With Daimler AG recognizing the emergence of high potential growth markets including India, Mercedes-Benz India will be amongst the first markets to start assembling the new M-Class, outside Daimler AG's parent SUV plant in Tuscaloosa/Alabama, USA.
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