VW to finalise India plans by 2007
NEW DELHI: Over six months after unearthing a major scam in its proposed venture for India, German automobile major Volkswagen AG (VW) announced that the new venture’s fate will be decided by the next year.
Terming India as a growing market and an important one for VW, Bernd Pischetsrieder, chairman of Volkswagen, said the company will take a decision on whether to move ahead with plans for building a new large assembly plant in India within next year.
The VW group operates in India through Skoda Auto, which has a small assembly presence in Aurangabad. Two years back, VW had proposed to set up a twin venture to build both heavy trucks and passenger cars in India.
SOURCE:THE TIMES OF INDIA
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