Information Madness

The German auto giant Volkswagen launched its first Indian made car Polo, in the presence of Ashok Chavan , Chief Minister of Maharastra. He welcomed the company’s move to set up Rs.3,800 crore factory with 1.10 lakhs car manufacturing capacity . Heizman , one of the board member said that the price, colour, safety measures and other details of Polo will be announced in January, 2010. The new VW Polo will be a challenger for Maruti’s Swift, Hyundai’s Getz and Tata Motor’s Indica.

“This is for the first time that we are celebrating the roll-out of our new model together with the families of employees not only from India but also from other parts of world as well", he said.

Volkswagen is looking to go for B segment of the passenger car market , which is the largest in the country. The company sees for further growth in this sector. Heizman , said that the company is looking for joint venture with Suzuki Motor Corp. in building cars. The Germany company has agreed to buy a 19.9% stake in Suzuki for $2.5 billion. Volkswagen and Suzuki will develop hybrid and electrical car under both brands, While VW will be the major share holder.

The company is planning to double its work force from 1200 to 2500 by next year at its $856 million factory in India. The company is targeting 100,000 car deliveries a year in the long run, earlier it has sold about 16,000 vehicles in India from January through October.