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November 24, 2005
BMW to assemble 3 and 5 series automobiles in India
German luxury/sports automaker BMW will produce the 3 and 5 Series saloons from its first assembly unit in India, coming up near Chennai and due to be commissioned by 2007.
The company targets annual sales of 150,000 units of BMW, MINI and Rolls-Royce cars in the Asian markets by 2008. In fiscal 2004, the company sold 95,482 automobiles in this region.
The production and sales subsidiary in India will be 100 per cent owned by the BMW Group. Initial investments in India total 20 million euros. As per current plans the BMW 3 and 5 Series production in Chennai will be sold in the local market.
Posted by admin at November 24, 2005 03:08 AM