5Aug/090
Mercedes-Benz to invest Rs 4,780 crore in Chennai
Mercedes-Benz plans to invest around Rs 4,780 crore towards increasing production capacity of trucks, at its plant in Chennai. However, the time frame for this proposed investment has not been announced by the company yet.
Mercedes, which produced about 4,000 units in India last year, is currently witnessing a slowdown in sales in the country. The German luxury car manufacturer sold only 1,500 units in the country during January-June 2009 and hopes to improve its performance in the second half. The new E-Class luxury saloon, which is due to be launched in India very soon, is expected to provide a fillip to M-B sales in the country.
[Via: indiaautomotive]