German luxury car manufacturer Mercedes Benz will increase its investment to Rs.850 crore in the domestic operations by 2014 as it is preparing to start assemble more of its models here.
Mercedes-Benz India, the Indian subsidiary, has an assembly plant in Chakan near Pune, where it is investing more than Rs.600 crore to scale up operations, the company says in a statement.
Chakan plant
The Chakan plant started operations in 2009 and scaled up the initial investment of Rs.250 crore to over Rs.600 crore with the setting up of a paint shop. “The investment of Rs.850 crore will enable Mercedes-Benz India to be future-ready,’’ the statement says, quoting Mercedes-Benz India Managing Director & CEO Peter T. Honegg.
